Property to cost a Princely sum
Things have changed a lot since her Majesty the Queen was born in Mayfair in 1926.
In the year that John Logie Baird demonstrated the first working television system and Agatha Christie went missing from her home in Surrey, the average house price was just £619.
Today that figure is £291,505 – an incredible 47,000 per cent rise.
This compares to gold which rose from £4.25 an ounce to £876 and shares which rose 11,685 per cent.
If prices continue to escalate at the same rate, when Prince Charles reaches 90 in 23 years time the UK average house price would be £1.3 million pounds – meaning buyers would have to save an eyewatering £260,000 for a basic 20% deposit.
By the time his grandson Prince George reaches his ninth decade the average price will be over £86 million pounds!
According to estate agents Jackson-Stops & Staff who released the research, lack of new build homes is a key factor in the rise and they warn that until more homes are built rising house prices are inevitable.
Time to get that self-build project off the ground….< Back