How does “The Valentine’s Day effect” affect the real estate market?
The real estate market may benefit or suffer because of current trends. A perfect example of this is the “Valentine’s Day effect” this is what the period of the second half of February is called, just after Valentine’s Day. During this period the real estate market experiences a sales boom that exceeds 17%.
Normally this is due to a greater number of couples and newlyweds who want to buy a house and turn it into their “love nest” The main real estate companies recommend sellers to market their properties and take advantage of the sales boom that occurs during this date.
Cupid is the cause
According to several real estate companies, during the second half of February, they receive many more visits on their websites, as well as a greater number of requests to sell or rent properties. An increase greater than 17% compared to the first 15 days of February.
Andrews Property Group is one of these companies, according to statements by its executive director David Westgate: “The second half of February is an ideal time to sell or rent a property, couples are more willing to move in together, which translates into a greater increase in property sales”
“We can’t be sure that all this is due to Valentine’s Day, but it’s a fact that has been repeated for 10 years and always on the same date. The second half of February is the ideal time to sell or rent a property”, were David Westgate’s statements.
Since 2010, the second half of February has been a time of many gains for real estate companies. Average increases of 17% in property sales have been reported throughout the UK, at least half of which are newly married couples who want to move into a new home.
Waiting for that special person
Another important aspect that brings the “Valentine’s day effect” is the desire of the owners to keep their options open, this means that they prefer to leave their properties instead of selling them, all this while waiting to move with a partner, in most cases are about a future couple.
David Westgate explains that this is known as “lifestyle landlord” According to the statements of the executive director of Andrews Property Group: “On our website, 9% more “lifestyle landlord” accounts are created after Valentine’s Day. These are people who are looking for a partner, couple, or just someone to share their new home.”
In the UK, approximately 19.000 newly married couples move to a new house annually. A perfect example that Cupid’s arrow has a positive effect on the real estate market.
Responsible couples request a property survey!
Newly married couples want to share their love nest for the rest of their lives. For this reason, they know how important it is to request a property survey before buying a new home. At HICH LTD we offer the best property survey service in the whole UK. Let the real specialists take care of analysing any property you are thinking of buying.
Contact us through this link to request your property survey today. The best Valentine’s Day gift should be the safety and well-being of your property!
HICH LTD wishes all our customers a wonderful Valentine’s Day.
