Transfer Window Could Be Worth £100m To UK Property Market
Wed 30th Jan 2013 | Money & Finance
The January transfer window could be worth as much as £100m to the UK property market, according to Rightmove, as Premier League players joining new clubs eye up new homes to buy or rent as part of their relocation.
Over the last three years, the January transfer window has seen an average of 23 permanent moves to Premier League clubs which would require a player to relocate, with a number of temporary loan deals also requiring players to move into prime rental properties.
Due to escalating player salaries and price growth in prime property markets, Rightmove estimates that transfer window home-moving activity could be worth as much as £100m to the property industry, accounting for house sales, rental agreements and home refurbishment and renovation costs.
Rightmove director Miles Shipside commented: “Estate agents in footballer hotspots such Cheshire, Surrey and Hertfordshire will be on high alert to potential transfer market activity on Thursday.
“Big wages and signing-on fees mean footballers are both cash-rich and willing and able to transact on a property very quickly making them highly desirable customers for vendors and landlords of prime property.”
Ironically, while expectant estate agents may well be keeping tabs on the sports pages in the hope of hearing any breaking news first, many fans will be watching the property market for tell-tale signs of activity.
Last year eagle-eyed Arsenal fans noticed that Robin Van Persie’s house in Goffs Oak had been placed up for sale ahead of his summer move to Manchester United, and news last week of Mario Balotelli’s rented property being listed on Rightmove sparked a flurry of rumours about his imminent departure.
Shipside adds: “Just as players joining Premier League clubs will need to buy or rent a new home, those players who are being sold will be putting their homes onto the property market as part of moving on. As we have seen, some major player moves can start on the ‘properties for sale’ list before the transfer list.”
Posted by: Aaron Gourley
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