1
Jun
Queen’s Jubilee – Average house prices were £1,891
in 1952
Analysis 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.
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.