On The Ball

Created: 15/06/2006

Phillip Bishop, Director of Perry Bishop and Chambers looks at this summer’s property selling tournament.

There is no doubt that national tragedies, dramas and triumphs do have an effect on the property market in the UK.  Even the seasons affect activity.

Christmas and summer holidays often used to depress the market for some weeks at a time.  Dramatic economic forecasts and events such as interest rate rises or tax changes were sometimes cited as reasons why property did not sell.  But none of these seem to have the impact they once did.

Immediately following the death of Diana, Princess of Wales, the terrible events of 9/11 and, more recently, the 7/7 atrocities, the market was dulled for a time as people focused on more serious matters.

This summer’s market event will undoubtedly be the football World Cup in Germany.  The longer that England remains in the tournament the more likely it is that football fever will affect the market.  After all it is going to affect so many other parts of our lives over the coming weeks.

So will the World Cup have a detrimental effect on the market?  I think it is safe to predict that fewer people will be viewing property and that some will delay putting their property onto the market until after the event.  This does of course mean that those people who are more active will probably be more serious.  Also the Cup does coincide with the onset of the summer holidays so any impact may not be so marked.

It is often said by cynics that Christmas is a good time for estate agents as families, thrown together for an extended period at home, find that they need more room and decide to move somewhere bigger.  Perhaps now the sudden need for the latest high definition, enabled, 42 inch, flat-screen plasma television will have the same effect.

But whichever way you look at it, win or lose, the World Cup will not change the market in the long term, even if it does influence it in the short term.

Many buyers and sellers, and even some estate agents, are tempted to blame the property market when things don’t go according to plan.  Of course a poor market, either in boom or bust mode, brings many problems.  But we haven’t had a really poor market for some years.

Property that loses out in this summer’s selling competition will be that which is not as fit, or as well prepared as others.  To win buyers sellers will need great management and an excellent team effort.  This means that the price will have to be right and that the condition and ‘kerb appeal’ in the top league. Sales also need to be managed by a top-flight estate agent.

Either way this summer, if selling is your goal, the market is relatively stable and really quite healthy.  What’s more it looks to continue like this for the duration of the World Cup and on into the autumn.

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