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House prices 86 times higher since start of Queen’s reign

By comparison, retail prices have risen by a multiple of 25 over the same period, meaning that for most people buying a home has been a very good investment even after stripping out the effects of inflation.

The number of dwellings in the UK has almost doubled since 1952, with 14.1 million at the start of the Queen’s reign, compared to an estimated 27.3 million today. However, the number of new homes being built each year has fallen by 46%; from 248,320 in 1952 to 133,840 in the latest estimate.

Two thirds (68%) of the country are now owner occupiers, compared to one third (32%) in 1952. Indeed, at the start of the Queen’s reign half of the country was renting privately compared to 14% today.

Peter Dockar, Head of Mortgages at HSBC, said: "The housing market has changed a great deal under the current monarch, with the aspiration towards home ownership and the increase in house prices most dramatic over the second half of the Queen’s reign.

"There is no doubt that property has remained a sound investment over this period.

"Home ownership remains an ambition for many and we continue to make new products available to help first-time buyers achieve their dreams of taking their first step onto the property ladder."

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0 thoughts on “House prices 86 times higher since start of Queen’s reign

  1. As well as NIMBYism, several other trends related to household income, household formation, and ease of credit, worked together to excessively and unsustainably force up house prices to unfair levels.

    These factors are combined with unchecked commodification of shelter for the population, caused by misguided governments who omit to regulate house prices, while unfairly allowing over-leveraged bidders to force up housing costs so they (the government) can benefit from vast streams of land tax, stamp duty, and council rates revenue.

    The dangerously unregulated property environments in the UK and Australia include many unfair elements that have been described well on the Zetaboards Property Forum. Sadly the truth in Australia is that every spare dollar of household income is spent on overpriced housing and capitalized into ever increasing house prices as young families battle for decent shelter while speculators unfairly hoard the available housing stock!

    If you’re as upset about this as I am, voice your opinion on the forum ( http://australianpropertyforum.com/forum/3210735 ) where many like-minded people have had just about enough of this ridiculous property bubble and its damaging effects to our economy and society.

    Leith van Onselen.