Tomorrow could see the the housing markets on pause according to analysis by Search Acumen, the property data and technology provider, which shows a double-digit drop in residential sales when it’s Friday 13th.
HM Land Registry data shows that the average Friday workload for conveyancers produces 9,394 residential property purchases completed.
However, there are signs that superstition may be a factor in stalling the market and slowing the sales process, with activity dropping away whenever Friday falls on the 13th day of the month – an event which occurs at least once every year.
The effect is most visible in the residential market, where Friday 13th typically has 5,733 home purchases completed – a 39% drop from the usual 9,394 Friday completions.
Andy Sommerville (left), Director of 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 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.”