60 years of growth for UK properties
New research from HSBC shows just how much the UK property market has changed during the 60 years that Queen Elizabeth II has graced the throne.
At the time of the Coronation, in 1952, the average property could be bought for less than £1,900 – fast forward six decades and the cost of the average UK property today is more than £162,700 – more than 85 times higher than when Princess Elizabeth was crowned.
During the sixty years of Her Majesty’s reign the number of residential properties has almost doubled from 14.1 million to more than 27 million today.
The level of home ownership has drastically increased – in 1952 just over 30 per cent of the population owned their own home compared with almost 70 per cent today. Around half of the UK populace lived in private rental accommodation at the beginning of the 1950’s compared to less than 15 per cent today.
Looking at how the value of UK properties has increased during the last six decades the majority of experts agree that property remains a safe investment.