UK house prices have surged by 2,432% since the Queen’s first Jubilee in 1977. With the biggest jump between the Queen’s Silver Jubilee in 1977 and Golden Jubilee in 2002, with a massive 937% jump in house prices.
As the Platinum Jubilee is upon us, celebrating 70 years since Queen Elizabeth took to the throne, Mortgage Advice Bureau has analysed data from the Land Registry to see how house prices have changed as she marked each milestone during her reign, from her Silver Jubilee in 1977 to today.
The data analysis has found that house prices have jumped a massive 2,432% since 1977, when the Queen had been on throne for 25 years. The biggest increase was between the Silver Jubilee and Golden Jubilee – marking half a century since her coronation – when the national average house price jumped 937% from £10,926 to £113,304.
In the five years between her Sapphire Jubilee and now, there has been an increase of 25%.
|Jubilee Year||National average house price||Numerical increase from 1977||Percentage increase from 1977|
|Silver Jubilee 1977||£10,926||N/A||N/A|
|Golden Jubilee 2002||£113,304||£102,378||937%|
|Diamond Jubilee 2012||£170,049||£159,123||1356%|
|Sapphire Jubilee 2017||£221,833||£210,907||1830%|
|Platinum Jubilee 2022||£276,755||£265,829||2432%|
“A lot has happened since the Queen was coronated 70 years ago, and we’ll be celebrating across the country in June.
Mapping out the average house prices in each landmark year of her reign just shows the massive surge that has happened, and many will be questioning how much further house prices will rise. It’s important that buyers don’t get too disheartened by the fact house prices have continued with their extraordinary growth rate, and that there are ways to get onto the property ladder”, said Ben Thompson, Deputy CEO at Mortgage Advice Bureau.
This could be an opportune time for many landlords to exit the market, especially with the Government continually making it more difficult for UK buy to let investors.