Will The Housing Market Spring Into Life After The World Cup?
A press release has just landed in my inbox that heralds a surge in the housing market once the World Cup is over.
Activity in the property market is set to surge by an amazing 8% once the football fest finishes, according to Your Move.
Apparently someone at Your Move has been tasked with analysing all the property transactions completed during and after previous World Cups. For six 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%.
Whilst I am staggered that anyone would think of correlating the housing market to World Cups, I’m at a loss to think why an orgy of world class football should suddenly trigger renewed interest in buying and selling houses.
Sure, if England win, I can see a wave of euphoria sweeping the land and sending all sorts of things crazy for a while, but can you think that anyone would say “Brilliant, England have beaten Brazil in the final and won the World Cup – let’s go and buy a house to celebrate!”.
Pent up demand may explain it. Everyone is glued to their new flat screen TVs throughout the World Cup, putting the rest of their lives on hold until their spouses/partner yell with frustration that “You promised to buy (or sell) the house – get on with it!” I left out the expletives that were probably present in that sentence, by the way.
So will the housing market surge once the World Cup is over? Probably not, but lets wait and see.
In the meantime: “Come on England!”. “Come on Housing Market!”.