The last day of the week might be a popular day to move, but analysis has also revealed double digit decreases in both residential and commercial property sales when the 13th day of the month falls on a Friday.
Indeed, HM Land Registry data shows the average Friday workload for conveyancers and solicitors who are dealing with property transactions tends to involve 9,394 residential property purchases being completed.
But on Friday 13th, this this figure falls to 5,733 – a 39% fall compared to the average Friday.
Disruption to routine
Andy Sommerville, director of Search Acumen, the property data and technology provider which carried out the study, said these figures appeared to suggest the property market was not immune to superstition surrounding the so-called unluckiest day of the year disrupting normal routines
“With the challenge of finalising paperwork on time and safely transferring life-changing sums of money, buyers with a superstitious nature might be forgiven for feeling that it’s tempting fate to schedule their completion on this notorious date,” he said.
“Property transactions can feel frustrating, time-consuming and scary even at the best of times, but future generations might look back on 2019 as a milestone year in putting some of those fears to rest.”
Indeed, Search Acumen has just taken part in a global blockchain trial for property transactions.
This, it explained, had demonstrated how new technology was emerging to improve security and transparency within a property buying process.
Somerville added: “Wider adoption promises to deliver a better experience for all involved, so buyers won’t need to keep fearfully looking back over their shoulders, no matter the date.”
