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Football fever boost for home movers

Football fever boost for home movers

Category: Mortgages

Updated: 09/06/2010
First Published: 09/06/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The World Cup is set to give a surprise boost to the housing market, after it was revealed football fever gets homeowners in the mood for moving.

Having looked back over the trends apparent in the housing market during and after recent World Cups, Your Move predicts there will be an 8% surge in house moving activity once the tournament comes to an end on 11 July.

At the end of the last World Cup in 2006, official figures showed that in the month following the tournament, property transactions rose by 10%, from 160,000 per month in June to 176,000 in August.

"When football fever grips the nation, many buyers are glued to their screens," said David Newnes, estate agency managing director of LSL, the owner of Your Move. "But historically, a flurry of buyers hit the streets in the month after the tournament.

However, Mr Newnes said that this does not mean the housing market recovery will stall while the competition is progress.

"Consumer confidence has risen this year, and more buyers have been entering the market," he added. "We don't expect the World Cup to interrupt the recovery of housing sector but we can expect an upsurge once it's over."

For people thinking of moving either during or after the World Cup, the mortgage market has enjoyed something of a resurgence of late.

Check out a selection of the most popular mortgage deals around in our best sellers mortgage chart.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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