01 Jun Property prices 152 times higher than at the time of the Queen’s coronation
As we celebrate the Queen’s jubilee and compare life now to the 1950’s, property prices in Horsham are now 152 times higher than at the time of the coronation. The average property in the UK in 1952 cost £1,891 compared to today’s Horsham average of £287,982.
In contrast a recent analysis by HSBC has revealed that retail prices have risen by just 25 times over the same period, making buying a home a very tidy investment.
Over the last fifty years, there have been sizeable changes in patterns of housing tenure. In 1952, 31% of the population lived as owner-occupiers, today, 69% of houses in England and Wales are either owned outright or purchased with a mortgage.*
Steven Greenfield, Director at Courtney Green adds:
“In the last 60 years the housing market has seen a dramatic change. When the queen came to the throne most of the UK population were in rented accommodation. Now over two thirds of the county are homeowners. These figures show that owning a home in the long term is still a sound financial investment.”