When a major sporting event comes to town, property owners often assume it'll be good news. Increased investment, infrastructure upgrades, visitor footfall, rising house prices. Except sometimes it doesn't work out that way, especially when the event itself is scaled back.
The upcoming Commonwealth Games offers a useful lesson for sellers in host regions and beyond. As organisers plan a leaner, more cost-conscious event, it's worth asking: what does that mean for the property market?
The smaller event paradox
The 23rd Commonwealth Games will be notably different from previous iterations. A reduced budget and tighter scope sound efficient on paper, but they signal something important to local property buyers and sellers: expect less dramatic economic activity than you might have anticipated.
Smaller events attract fewer international visitors, generate less commercial investment, and create fewer temporary business opportunities. That's not necessarily a disaster, but it does mean sellers can't simply bank on event-driven demand to push prices higher.
Across the UK, we're seeing an interesting pattern emerge. House prices have grown by just 2.7% annually, and with Bank of England base rates holding at 3.75%, mortgage costs remain substantial for buyers. The average 2-year fixed rate sits at 6.6%, with 5-year deals at 4.81%. These conditions already make buyers more cautious. Layer in a scaled-down major event, and their caution deepens.
What this means for your selling strategy
If you're selling in a Commonwealth Games host region or similar event area, don't assume external excitement will do your marketing work for you.
Instead, focus on what actually moves buyers right now: value for money, local amenities that matter year-round, and honest pricing. With mortgage rates putting pressure on affordability, buyers are scrutinising every pound of asking price far more carefully than they did five years ago.
The average UK house price stands at £271,295. If you're selling near that figure or above, you're competing for buyers who are making genuinely difficult financial decisions. A smaller event won't change that calculus. Your property's condition, its layout, proximity to schools or transport, and realistic pricing will.
The quiet market advantage
Here's where it gets interesting. When major events scale down, property markets often quieten. But quiet markets aren't necessarily bad for sellers. They simply require different tactics.
Quieter conditions mean less competition from other sellers in your area. Your home gets more individual attention from genuine buyers, not just investors hoping for a quick flip. The buyers who do come forward tend to be serious rather than speculative.
They're also more likely to negotiate fairly. With fewer properties moving, sellers can't price aggressively hoping someone will overpay out of FOMO. Instead, you'll attract buyers who've done their research and can justify their offer.
Practical steps for sellers in event regions
Don't ignore the event, but don't rely on it either. Get a proper market appraisal from a surveyor and local agent who understand what's actually happening in your neighbourhood right now, not what was predicted three years ago.
Price competitively from day one. With mortgage costs where they are, buyers are priced out already. Overpricing on the back of vague event optimism will only mean your home sits on the market longer.
Highlight what makes your property valuable beyond the headlines. Good schools, transport links, local shops, parks, healthcare facilities, community character. These sell homes in quiet markets because buyers are making long-term decisions, not short-term bets.
If you were planning to sell before the event begins, consider doing so now. The best time to sell in any market is when you're ready and when you've priced realistically. Waiting for an event that might not deliver the economic boost you hoped for risks extending your selling timeline unnecessarily.
The broader lesson
Major events aren't bad for property markets. But scaled-down versions aren't magic either. Success in quieter conditions comes down to fundamentals: honest pricing, good presentation, and understanding what buyers actually need rather than what marketing promises they'd like to hear.
Whether you're selling in a host region or anywhere else in the UK, the current property environment rewards sellers who adapt their expectations to real market conditions rather than hoping for external factors to do the heavy lifting.