Although a dip in the number of housing transactions has been recorded during previous World Cups, this appears to have been short-lived and the housing market will bounce back, with property sales in August set to rise well above the average summer levles, predicts haart estate agents.
Haart has analysed data on housing transactions before, during and after the tournament, stretching back 20 years from the World Cup year of 1986.
The results reveal that in June, when the tournament is in full swing and the public are watching matches, the monthly average number of housing transactions dropped by 1,600 – a decrease of 1.3 per cent.
Post competition, transactions bounced back up again with a significant average percentage increase of 4.1 per cen tin August.
And if England performs well, the bounce back will be even more significant as the feel-good factor carries people forward, says haart. In 2002, when Englan reached the quarter-finals, transactions dropped by 5 per cent in June, but soard by 11 per cent post competition.
In contrast, in 1994, the year in which England failed to qualify for the World Cup, the results closely mirro the pattern in non-World Cup years.
Russell Jervis, managing director of haart comments: “It is well documented that the World Cup will impact on the economy as football fever grips the nation. Our reserach shows that the housing market is no different.
“With this in mind, potential buyers and sellers should consider entering the market now and being a step ahead, as it could be an excellent time to snap up a great deal amidst the football fever.”
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