Your Move has analysed the number of property transactions completed during and after World Cups. According to analysis of HMRC figures, transactions have risen by an average of 8% following the competition compared to its first month. For instance, in the last World Cup, 2006, in the month following the tournament, property transactions rose by 10% from 160,000 per month in June to 176,000 in August.
This is not a seasonal phenomenon. For 6 of the last 7 World Cups, the month following the tournament has seen increased activity compared to the same month the year before, rising by an average of 7%.
David Newnes, managing director of LSL, owner of national chains Your Move and Reeds Rains, commented: “When football fever grips the nation, many buyers are glued to their screens. But historically, a flurry of buyers hit the streets in the month after the tournament. That doesn’t mean the housing market recovery is set to stall in the short-term during the competition. Consumer confidence has risen this year, and more buyers have been entering the market. We don’t expect the World Cup to interrupt the recovery of housing sector but we can expect an upsurge once it’s over.”
