HM Treasury: 750,000 jobs saved by house sale increase in August

Three quarters of a million jobs have been supported by a rise in residential property transactions in August according to government figures.

HM Treasury has announced that property transactions for residential units rose by 15.6 per cent last month, following the introduction of the stamp duty holiday.

The figures build on a wider trend following a 14.5 per cent rise in transactions in July, and comes two month after the Chancellor’s announcement of a stamp duty holiday, set to last until March next year.

The government has said that 750,000 jobs have been protected through the increase in property sales.

Chancellor Rishi Sunak commented: “Every home sold means more jobs protected – helping us to deliver on our Plan for Jobs.

“But this isn’t just about the housing market. Owners doing up their homes to sell and buyers reinvesting stamp duty savings to make their new house feel like a home are also firing up local businesses, supporting, creating and protecting jobs across the country.”

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