- UK average house prices rise from £619 (1926) to £291,505 (2016), an astonishing rise of 47,021% (a 470 fold increase), based on data from the Office for National Statistics (ONS).
Property easily outperforms gold, up 20,425% and equities up 11,685% over the same period. If a pack of butter which cost 5.3p (1s - ¾d) in 1926 rose in line with UK average house prices it would now cost £24.97.
- When Prince Charles reaches 90 in 23 years’ time (Nov 2038), the UK average house price will be £1.3m - assuming house prices rise at the same rate as in the last 23 years.
- On the same basis when Prince William reaches 90 in 2072 the average UK house price will be £11.3m.
Jackson-Stops & Staff is the first to compile this unique long run house price series and Nick Leeming, chairman at Jackson-Stops & Staff, comments: “It is not the fact that property has outperformed over the last 90 years that is surprising, but the sheer scale of it. The 471-fold increase would take a 65cm pot plant, which could easily fit under a kitchen table, to a giant tree that is taller than London’s Shard, standing at 306 metres.”