Interesting Property News

House Price Growth Since the Queens Coronation

Today’s average UK house price is £276,755 which is a staggering 182 times higher than it was when the Queen was coronated in 1952, making it seem as if we could all afford palaces now in comparison.

If you wanted to get onto the property ladder in 1952, the average house price was just £1,891, that would not even get you a good quality 85 inch TV today.

When the Silver Jubilee took place in 1977, the average house price had gone up but was still only £9,737, however, your options would be very limited today for a brand-new car at that price.

At the Diamond Jubilee in 2012 the average house price was a massive (in those days) £160,000 which was 16 times higher than what it was in 1977. People were starting to think that they surely cannot go any higher.

10 Years on from 2012 and it is the Queens Platinum Jubilee, an amazing 70 years since the Queen took the throne. The house prices have continued to grow at what is an eye watering rate. The average UK house price is now £276,755.

In 70 years, property in the UK has doubled in value somewhere in the region of every 9 years since the Queen was Coronated, again we find ourselves wondering how far it will go and what changes are going to have to be put into place to accommodate these rises in property value.

What is clear from all this, apart from the fact that we have an amazing Queen that has shown will, strength and a real stiff upper lip in her 70 years reign, is that owning property in the UK is a great investment.

A few other interesting facts about 1952;

  • A loaf of bread cost 4p
  • A pint of milk cost 3p
  • Half a dozen eggs cost 8p
  • Only 8 percent of households had a fridge
  • Rationing was still in force
  • The TV licence cost £2 per year
  • 96% of household power came from coal
  • Only 4 million people owned their own home
  • Average wage for a man was £452 per year