Property News > The World Cup v Euros: Which Tournament Sees The Biggest Surge In House Prices?
The World Cup v Euros: Which Tournament Sees The Biggest Surge In House Prices?
The World Cup sees a larger surge in house prices following the tournament’s climax compared to the European Championship.With a major tournament every two years, and Russia 2018 in full flow, we studied how the market fluctuates between the beginning and end of the tournament, particularly when England are involved.On average, across the past seven tournaments, the average price of property sees a 3.7% increase from the start to the weeks following the end of the World Cup, compared to only a 2% rise following UEFA’s top tournament.Since 1990, every major tournament, bar two, has seen a rise in house prices following its conclusion, as the nation puts house hunting to one side to cheer England on. The largest rise from the beginning of a tournament until the end came in 2002, when Sven Goran Eriksson’s men reached the Quarter Final. As Ronaldinho lobbed David Seaman to send the Three Lions packing, the average price of property rose from £106,121 to £116,743, a 10% increase. Two years later at Euro 2004, another Quarter Final finish for England, property saw a £9,000 increase, a jump from £142,135 to £151,240.Euro 2008 saw the largest drop in value, a tournament in which England failed to qualify for following a miserable night which saw Croatia defeat the “Wally with the Brolly.” The lack of interest in the tournament prevented a surge of people entering the market come the end of July, and overall property dropped by over £7,000 from the beginning to the end of the Austria-Switzerland tournament.USA 1994 was the only other year where property dropped in value between the beginning and end of a tournament, another which was without England. A 0.9% decrease was endured across that tournament.The last two major tournaments have seen increases of over £6,000, despite early exits for England. Defeat to Iceland two years ago sent Roy Hodgson’s men home in the Round of 16, while a Group Stage exit in 2014 didn’t stop the average house price rising 4.4% from 183,532 to £191,532.What that will likely mean is a rise of around £8,385 following the World Cup Final on July 15, taking today’s house price from £224,208 to £232,593.