While many embrace Buy Nothing Day on 25th November as an opportunity to step back from consumerism, new research from London lettings and estate agent Benham and Reeves reveals an unexpected trend: property sales skyrocket on this day. Data shows that an average of 342% more property transactions are completed on Buy Nothing Day compared to the daily average for the rest of November.
Buy nothing day and the property paradox
Buy Nothing Day, held annually on 25th November, encourages individuals to refrain from shopping to highlight the effects of overconsumption in developed countries. Participation is simple—don’t buy anything. Yet, for homebuyers, this day seems to be a particularly active one for finalising property purchases.
Data from Benham and Reeves shows that over the past five years, an average of 2,470 property sales complete per day in November. However, on 25th November, that number leaps to 10,916 completions, making it a standout date for property transactions.
Why are completions higher on this date?
Director of Benham and Reeves, Marc von Grundherr, attributed the phenomenon to the unpredictability of the property purchasing process:
“The property purchasing process is a long and unpredictable one, and, as a result, homebuyers really have no concrete idea as to when they will reach the finish line. Interestingly, this has seen a far higher number of homebuyers make what’s likely to be their biggest life purchase on Buy Nothing Day versus the rest of the month of November—albeit the decision to do so was largely out of their hands.”
Completions are often subject to a myriad of factors, including legal formalities, mortgage approvals, and delays in conveyancing, meaning the timing is rarely intentional. Nevertheless, the coincidence highlights a stark contrast between the spirit of Buy Nothing Day and the reality of one of life’s biggest financial decisions.
A reflection on consumer habits
The juxtaposition of Buy Nothing Day with a peak in property transactions may seem ironic, but it underscores the complexities of consumer behaviour. While the initiative encourages individuals to reassess their everyday purchasing habits, property completions—although technically a purchase—are the culmination of weeks or months of planning.
Von Grundherr explained: “In some cases, buyers may be unlucky and face delays or the dreaded fall-through, but for most, it’s simply a matter of waiting for each piece of the puzzle to fall into place. The higher completions on this date are an interesting quirk of timing rather than conscious planning.”
What this means for the housing market
The spike in completions on 25th November serves as a reminder of the housing market’s unpredictable nature. While it may not align with the ethos of Buy Nothing Day, it highlights how significant life events, like purchasing a home, often operate outside the rhythms of retail consumerism.
As environmental and economic considerations gain prominence, perhaps the growing awareness fostered by initiatives like Buy Nothing Day will extend to other areas of life, including housing. For now, though, the date remains a curious anomaly in the property market calendar.
Could this trend point to new patterns in how we think about major purchases—or does it simply reflect the unavoidable logistics of home buying? For those completing on 25th November, it’s a day that represents both a financial milestone and a touch of irony.
