End of World Cup will see buyers emerge
09/06/2010 - Transactions rise after the final whistle
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The World Cup is about to affect the housing market as far as the property company Your Move is concerned. Your Move employees have analysed property transactions completed around past World Cups and have come up with some interesting figures.
The amount of transactions, that is, new home purchases and remortgages, have increased by an average of 8% following the competition compared to its first month. The 1994 World Cup, when England failed to qualify, saw a rise of 5% following the end of the tournament. The end of the last 7 World Cup competitions have seen an increase of an average of 7%
Figures show that after the 2006 World Cup property transactions rose by 10% each month to reach 176,000 transactions by August. The rise in property deals is thought to be due to inactivity during the competition when many are glued to their television screens, once the competition is over, the prospective buyers and sellers emerge.
