prices in the 60s

ukcarper

ukmike wrote: »

If he was self-employed he wouldn't have a wage slip!

It wasn’t a wage slip as such just a record of what he paid himself.

ukcarper

Graham_Devon wrote: »

I thought it was very difficult to measure pounds vs shillings, when looking at it the way its being looked at?

I only get this from my dad mind, as he said everyones money was devalued when it changed over. Still hung up about it

Measuring worth for me comes up as 4 shillings in 1964 = £3.16 using the RPI index.

Perhaps that is the most interesting point using measuring worth website for RPI 4s is £3.02p but using average earnings it is £6.43 showing how much average earnings have increased compared to RPI. These figures are for 2009 as that is the latest the website can go to.

PasturesNew

In 1970 my dad got a mortgage for his first house. £4,600. He put down £1000 deposit and borrowed 3x wages of £1,200.

Measuring worth shows:
The £1,200 salary for a QA Manager in an international firm, aged 40, comes up as
£13,800.00 using the retail price index
£25,000.00 using average earnings

The £4,600 spent on a 3-bed semi is now
£53,000.00 using the retail price index
£96,000.00 using average earnings
Although if he'd kept it and the house were put on the market right now it'd probably be about £275k (unmodernised as it was), then worth £300-325k once somebody posh had snapped it up and extended it, put central heating in, done some double glazing and 'poshed it up'. The people who bought it 15 years ago for about £79k have done that. Zoopla says the identical next door house is now worth £332k, Zoopla says 'ours' is worth £262k, based on the way it was when it was sold. So there's a 70k difference for doubling the size/poshing it up

ukcarper

I bought my first house in mid 1972 for £8k, which is £133k using average earnings. Similar houses were selling for £10.5k at the beginning of 1973, which is £154k. A similar property sold for £185k in 2009 not sure of condition.

Pimperne1

ukcarper wrote: »

I bought my first house in mid 1972 for £8k, which is £133k using average earnings. Similar houses were selling for £10.5k at the beginning of 1973, which is £154k. A similar property sold for £185k in 2009 not sure of condition.

According to Nationwide Historical Prices the average price in Mid 72 was £7k, at the beginning of 1973 it was £8.4k. The average price in 2009 was £156k so I think this bears out what you have provided in value terms. I think sometimes we lose sight of the fact that although the purchase price in 1972 was £8k the deposit was more likely to be in the region of £800 - from £800 to £185k in 40 years is pretty impressive (allowing for the fact that the mortgage would have been higher than rent for the first short period but then less than rent then nothing from year 25).

Davesnave

My first house cost £9251 in 1977. (the £1 was there because it was a sealed bids situation!)

The asking prices in that street are now about £275k. It was an up and coming neighbourhood.

I saved for 2 years to put £1000 into the Leeds Building Society as a deposit, but when I said I was thinking of buying, they replied: "We're out of funds, can you come back in 6 months?"

Happily, a trendy new BS called The Leicester had just opened in the High St, so I went in there and asked if they had mortgages. They replied that they had, for those who could bring funds from elsewhere, so I did.

I thought £9.25k was expensive. After all, in the 1960s, my Dad had bought a 5 bed Queen Anne monstrosity for £1k! :rotfl:

Kennyboy66

I remember feeling a little sad when we stopped getting milk from the milkman - approx 10 years ago.

And the reason we stopped was that he never got to ours before 8am and neglected to put those little red caps/tops we left out over the bottle (to stop the birds pecking through the foil top to get the cream).

Milk delivered (Liverpool) is now 65p per pint, or £1.99 for a 4 pint plastic.
Doesn't deliver every day either anymore - just 3 times a week.

Nothing finer than drinking milk straight from the bottle though - never consider drining from a plastic container.