Queen’s Reign Sees Property Prices Increase 86%Tweet
Published on June 12, 2012 by TBO editor
There have been many statistics and snippets of information about the 60 year period since the start of the Queen’s reign and mortgage lender HSBC has done some digging. According to the lender, house prices are now 86 times higher than they were in 1952 when the Queen took the throne. Back then, the average house price was a mere £1,891 compared to the current average of £162,722.
When it comes to investments, property holds up here too. Retail prices have only seen a 25 percent increase over the same period. Furthermore, there are around twice as many properties and residences now with only 14% of the country renting privately compared to nearly half at the turn of the 1950s. However, it isn’t all positive news as HSBC reports that the number of new homes being built has dropped significantly. In fact, while a quarter of a million homes were being built as the Queen came to the throne, there are only 133,000 being built currently.
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