Unlucky for some – property market slowdown today?
According to research published by The Negotiator, today is set to see a major slowdown in the property market as superstitious homebuyers, tenants and landlords dodge transactions on Friday 13th…
In surprising property market news, analysis by Search Acumen has shown that we can expect a double digit drop in residential sales today – a typical Friday the 13th of a month sees 39% fewer completions of residential sales (5,733) compared to the regular Friday figure of 9,394 sales.
Tempting fate by completing on Friday 13th?
It really does seem that superstition comes into play with vendors and sellers avoiding the traditonally unlucky day. Andy Sommerville of Search Acumen says that “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.”
The Maison View:
The property market isn’t immune to superstition and the effect it can have – and at a time of uncertainly a lesser confidence, you can’t blame some people for not wanting to tempt fate! There is often only one Friday 13th a year, although there are two at the end of 2019, today and in the month of December, so we have to hope that any transactions that are postponed from these dates take place on a different day. The last thing the market needs is increasing uncertainty.
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