11:11 AM, 26th May 2022, About 4 weeks ago 4
Analysis from Key Later Life Finance ahead of the Platinum Jubilee shows house prices have increased 138 times in value during the Queen’s 70 years on the throne.
Average house prices were £1,891 in 1952 at the start of her reign and are now £260,771, an increase of 138 times.
While inflation naturally means that spending power decreases over time, it is sobering to think that today’s monthly household disposable income of £2,616 (£31,400 per annum) would have bought you a property outright during the coronation.
Will Hale, CEO at Key, said: “We’ve seen some huge changes during the course of the Queen’s reign, including rapidly increasing house prices. While not a direct comparison due to inflation, it is incredible to think that today’s monthly average household disposable income could buy you a home at the time of the Coronation. People trying to buy houses can be excused for wishing we could go back to 1952.
“That said, the data also demonstrates the long-term strength of the housing market and the value of property wealth as part of most people’s overall assets. While nothing is certain, history suggests that investing in a home pays off over the long term and increasingly we are finding that people are choosing to capitalise on this investment.”
|HOW HOUSE PRICES HAVE GROWN BETWEEN 1952 AND NOW||ALL HOUSES||NEW HOUSES|
|Silver Jubilee (1977)||£12,689||£15,267|
|Golden Jubilee (2002)||£103,501||£106,735|
|Diamond Jubilee (2012)||£164,955||£175,697|
|Platinum Jubilee (2022)||£260,771||£279,031|
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