Don't clock off yet
Melbourne Cup Day has traditionally been called as the unofficial end of the year, with many players "clocking off" in terms of transactions, however our statistics showing something very different.
For at least the past 3 years, the average daily value of transactions (left hand chart below) after Melbourne Cup is 40% - 50% higher than the average daily value before Melbourne Cup !
The average daily number of transactions (right hand chart below) is similarly higher after Melbourne Cup but not to the same extent. In other words, we typically get bigger deals completed in the final two months of the year than in the first 10 months.
So on average bigger deals or more deals are expected to be completed in the next 6 weeks than what many people realise. Don't clock off yet !
These statistics are taken from all of the Commercial, Industrial, Retail or Development transactions recorded in ReSourceData for the above periods, and simply divided by the numbers of days either in Jan - Oct or in Nov & Dec.