Today will be the biggest day of the year for Australia's property industry

Today, four times as many property transfers will take place in 24 hours than usually take place in an entire week, as buyers prepare to spend the holidays in their new homes.

In a normal week, GlobalX chief executive Peter Maloney would expect to see 5000 properties changing hands throughout Australia. Tomorrow, 20,000 transfers will take place.

Mr Maloney said it was a combination of the spring selling season and rush to be in a new home by Christmas that caused the spike.

"The week before Christmas is the biggest week for transferring property between people in Australia," Mr Maloney said. "Property lawyers and conveyancers will be working up to the last minute on Christmas Eve."

As it turns out, the oft-repeated truism that spring is a good time for selling and people want everything settled before Christmas has some basis in fact, Mr Maloney said.

"Weather has such a large part to play in it. When the weather changes, the best time to sell property is September, October, to November," he said. "And everything has a 30 or 60 day settlement period so it's done before Christmas."

So spare a thought for the poor conveyancers running around the city in the December heat to get your home ready for you for Christmas.

However, once they and others in the property law industry get a break in the new year, Mr Maloney said other industries will be feeling the heat.

"There's a whole other aspect to this and it's often missed. It's what happens afterwards," he said. "Downstream there's a massive economic and consumer benefit in Australia, particularly white goods and furniture sales, there's a massive uplift in sales."

Even though it's a notoriously quiet time for real estate, some sectors of the market experience a brief surge during the January holidays.

Speaking from a pool in Byron Bay where he was holidaying ahead of the rush, Lambert Willcox director Jesse Willcox said the Gold Coast was gearing up to hit the ground running in the New Year.

"My weekend open homes just past were incredibly busy," he said. "The population swells on the Gold Coast by more than a million people. We see transaction numbers pick up through January and February."

That population surge generally translates into sales, he said. "A lot of people buy on the Gold Coast because they get taken up with the lifestyle and they might go home with a property they didn't expect to buy."

This story Today will be the biggest day of the year for Australia's property industry first appeared on The Sydney Morning Herald.