Property transactions drive GDP

We all know how important the property market is to the UK economy but the affects are very far reaching and way beyond the property transaction itself. Apparently each transaction results in an average of £9,559 (Source: Home Builders Federation) being spent on decorations, furniture and property enhancements and all that money goes into the wider economy and supports all businesses especially smaller businesses and in particular our ‘painter and decorator’ army. Added to that we have all the solicitors and conveyancers, removal firms, valuers and agents and we can see that each transaction supports an awful lot of people and contributions a large amount to our overall economy and our GDP.  No wonder the government are keen to keep the property market open and supported!

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