60 years of increases
PROPERTY prices have increased 105 fold during the Queen's 60-year reign and 16 times since the Silver Jubilee in 1977, according to new research from Hamptons International.
At a time when the nation is gearing up for a weekend of street parties and celebration, the Hamptons International research analysed the cost of a home in 1952, 1977 and 2012.
In 1952, the average price of a home in the UK was just £1,520 and £9,737 in 1977, compared with £160,000 today.
The research found that the average price of a home in London has risen 134 fold since 1952 and 21 fold since 1977. In 1952, the average price of a London home was £2,650, in 1977 it had risen to £16,493 compared with the average price of £354,300.
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Adam Challis, head of research at Hamptons International, says of the findings: "Britons are well known for their love affair with bricks and mortar and our jubilee property price analysis goes some way to prove just what a reliable investment property has been over the long-term.
"A 105 fold increase in the value of the average home in the UK over a 60 year period equates to a profit of just over £7 a day. This profit is inflated even more in London, where price growth represents £16 a day over a 60 year period, representing a rather healthy return on investment."