Superstitious Buyers Avoid Property Completions Today
Despite already living through a seemingly never-ending Brexit induced nightmare causing buyers and sellers to flee the property market in their droves, throwing in an additional superstitious grenade of Friday 13th is deterring even more from completing today.
According to data collated by Search Acumen, many residential and commercial property stakeholders could sleep through, delaying their transaction for a day with luckier connotations.
A typical Friday will usually consist of 9,394 residential completions. However, an average Friday 13th will see completions decline by 39% to 5,733.
Similarly, commercial transactions decline by over a quarter (27%) when they fall on the thirteenth day of the month. On average 835 commercial deals complete on a usual Friday, this falls to 611 on a Friday 13th.
Andy Sommerville, Director of search firm Search Acumen, said:
“Friday 13th has been referred to by some as the unluckiest date of the year, and these figures seem to suggest the property market isn’t immune to superstition 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.
“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. Having taken part of the first global blockchain trial for property transactions, we’ve seen first-hand how new technologies are emerging to improve security and transparency within the property buying process.
“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.”