Superstition and traditional reservations appear to play a measurable role even in far-reaching financial decisions such as purchasing residential property. An analysis of official data from the Land Registry over a period of three decades now illustrates this effect through concrete transaction figures. According to the findings, the fewest property transfers compared to all other Fridays of a year are registered on Fridays falling on the 13th of the month.
In the British property sector, Friday is traditionally considered the busiest weekday for the formal completion of purchase contracts, known as completion day. On this day, the balance of purchase funds is usually transferred and the handover of keys takes place. However, if this date falls on a Friday the 13th, many buyers and sellers evidently make a deliberate choice to shift to alternative dates. The long-term data series confirms that the number of recorded completions regularly reaches a low point on such days.
Price discounts for house number 13 and premiums for number one
The influence of irrational patterns of thought is not confined solely to the calendar date of the transaction. Notable anomalies linked to the number 13 also emerge in the valuation of residential space. According to the study, properties with the house number 13 are traded on average at £3,400 below the mean value of comparable properties.
An opposing trend can be observed at the other end of the scale. In comparison, properties bearing the house number one achieve a clear value premium. Buyers are willing to pay an average premium of £27,700 above the market average for residential properties with this prestigious address.
- —Lowest number of property transfers on Fridays falling on the 13th day of the month
- —Average valuation discount of £3,400 for properties with the house number 13
- —Significant price premium of an average of £27,700 for properties with the house number one
- —Database covers official transaction records from the Land Registry over 30 years
Relevance for market participants and sales strategies
The evaluation spanning thirty years illustrates that psychological factors and traditional myths have tangible economic consequences. For vendors and advising estate agents, these patterns mean that both the timing of completion and the numbering of plots still play a role in pricing and marketing planning today.
