Posted on Wednesday, May 25, 2022
- As the nation prepares to celebrate the Queen's Platinum Jubilee, we’ve looked back at changes in the housing market during the reign of Queen Elizabeth II.
- In 1952, the average price of a home was just £1,891. Adjusting for inflation that would be £57,997 today. At £267,620, the current average price of a home is over four times that figure.
- Back in the 1950s, over two-thirds of households were renters; today close to two-thirds of households are owner-occupiers.
- Like today, there was a housing shortage. But the 1950s was an era of rapid housebuilding, as part of the post-war reconstruction.
- For those seeking to buy, the average price of property in 1952 equated to 4x average annual earnings, compared to over 8x today. Source: Dataloft, Nationwide, ONS