Yep, you read that right. Research from homebuying platform, Yes Homebuyers, has revealed that the further England progress in Euro 2021, the better it could be for the housing market in England.
Yes Homebuyers analysed housing market performance following the last seven Euro championships and how the average house price in England performed in the wake of various England Euro success rates.
Failure to qualify
England has already overcome the first hurdle of qualification and Yes Homebuyers research shows they could have avoided a potential house price dip as a result. The data shows that the only time they have failed to qualify for the Euros since 1992 was in 2008 and over the following 12 months, house prices plunged -12%.
Group stages or last 16
Since the Euros in Sweden in 1992, England has failed to progress from the group stages on two occasions, 92 itself and 2000. Over the next year, house price growth following these disappointing performances averaged just 4%, as was also the case when England could only reach the last 16 in France in 2016. A similar performance this time around would be even more disappointing considering the expectations around the current team, but it could at least boost the average house price to £285,600.
It’s the business end of the tournament when things start to get potentially interesting for England’s homeowners. Having reached the quarter-finals in Portugal in 2004 and Poland and Ukraine in 2012, house prices in England increased at an average rate of 4.5% over the following year. A similar result this time around could see the average house price in England climb to £286,973 over the next year.
However, if England can replicate their performance at the World Cup and reach the semi-finals of this year’s Euros, the housing market boom could be set to continue for another year. In the year that followed the legendary Euro 96 tournament hosted in England, house prices spiked by 9%. A similar result this year could see an already giddy average house price of £274,615 climb as high as £299,331.
“Who would have thought that a solid Euros performance could have such an influence on property prices? Of course, we’re not suggesting that there is a direct link, but who knows? Perhaps positive national sentiment spurred by a strong footballing performance can spill over into the housing market.
We’ve already seen house prices climb at an alarming rate as a result of the stamp duty holiday and with the staggered deadlines fast approaching, a dip in market activity and property values is more than likely towards the back end of this year.
So it seems as though the only thing that can prevent this property market slump and keep the property market booming is for Southgate to guide the team to a semi-final. God only knows what might happen to house prices if we reach the final, or better yet, win the Euros.”