<p>The Home Builders Federation and Knight Frank have published a report demonstrating the broad economic benefits of housing market activity, with every 100,000 additional housing market transactions generating around £1 billion in GDP (gross domestic product).</p><p>The short report – <i><a href="https://content.knightfrank.com/research/2121/documents/en/knight-frankhbf-economic-benefits-of-housing-market-activity-2020-7616.pdf?pk_campaign=newsletter_4034">Economic benefits of housing market activity</a></i> – shows that those 100,000 property transactions support more than <span>11,500 UK jobs. </span></p><p><span>And the data found that this level of transaction triggers more than £500 million on renovations and spending on household goods, around £72 million on removals, more than £30 million on property surveys and around £314 million on estate agent and legal fees.</span></p><p><span>The report, focusing on activity specifically in the secondary housing market, supports HBF’s previous reports on the value of the new build sector, including </span><a href="https://www.hbf.co.uk/redirect/bf3a93c1/7b8282699b534a31995b0a0206b3345f/"><em><span>The Economic Footprint of the Home Building Industry</span></em></a> (2018) and <span><a href="https://www.hbf.co.uk/redirect/3378d200/7b8282699b534a31995b0a0206b3345f/"><em><span>Building Communities</span></em></a> (2020).</span></p><p><span>HBF and real estate consultancy Knight Frank said there was no single source of data that provided comprehensive information about the total economic impact of a housing transaction. But their report “</span>attempts to quantify that figure”. It said that for every resales housing transaction that takes place, the economy benefits by around £9,559 on average.</p><p>In the report, HBF’s executive chairman Stewart …