House prices 105x what they were in 1952

Itismehonest

House prices 105x what they were in 1952

From an article written in 2002

On the death of King George VI, the average worker picked up a weekly wage of just £8.68 - not even enough to buy a round of drinks in the pub today. Yet it was enough to live on when a loaf of bread or a pint of milk cost just six old pence - 2.5p today.

A packet of butter cost 12.5p, while bacon would set shoppers back just 18p a pound. Half a dozen eggs cost 10p.

It was a different world

chucky

the_flying_pig wrote: »

Er, crikey.

Compound interest is an interesting beast. He who understands it, earns it ... he who doesn't ... pays it.

FTBFun

Neither of my parents were even alive then.

Anyway - what was the level of owner occupancy then? I expect it was considerably lower than it is now.

ukcarper

I'm not sure figures are right Nationwide average house price 1977 £13k now £160k

[Deleted User]

nearlyrich wrote: »

How much were people earning in 1952 and just how much was a pack of peanuts? In fact could you even get peanuts in a pack in 1952, the world has changed a lot in 60 years not all for the better some might say.

I bought a house in 1982 for £8500 my topline including my quarterly bonus was about that last month in 1982 I was bringing home about £30 a week. The house is now worth about £150k beyond the reach of most first time buyers round here.

bringing home £30 a week in 1982?what weren`t you doing?i was bringing home about £170 a week by then,as a retail manager

oldvicar

woodbine wrote: »

bringing home £30 a week in 1982?what weren`t you doing?i was bringing home about £170 a week by then,as a retail manager

IIRC in 1982 my first job as a trainee paid £7193 pa plus perks. Around £140 pw, but not all take-home as I suppose there were taxes then too.

sharpy2010

oldvicar wrote: »

IIRC in 1982 my first job as a trainee paid £7193 pa plus perks. Around £140 pw, but not all take-home as I suppose there were taxes then too.

It does seem like a lot of people don't earn much more than £140 now. I live in South Wales and I don't know many people on more than £220 a week.

paddedjohn

Graham_Devon wrote: »

It's the Queens Jubilee soon, so what should we discuss?

House prices of course, and how we are all just so much better off.

So house prices have risen 105x since the Queen was coronated.£7 for each and every day since. This is classed as "profit".

They have risen 16x since her Silver jubilee in 1977. And looking at London on it's own? It will only cost you 135x what it did in 1952.



Personally, I'd like to see a mention of this in the Queens speech. Maybe encompassing the words "to infinity and beyond"!

I do notice a house in 1952 cost around the same as a pint and a packet of peanuts though.

Just being pedantic but The Queen's Coronation was in 1953, not 1952.

FTBFun

sharpy2010 wrote: »

It does seem like a lot of people don't earn much more than £140 now. I live in South Wales and I don't know many people on more than £220 a week.

That's about £13,000 p.a. though, nowhere near the average.

Median in April 2011 for instance was £501 pw/£26k p.a.:

http://www.ons.gov.uk/ons/rel/ashe/annual-survey-of-hours-and-earnings/ashe-results-2011/ashe-statistical-bulletin-2011.html

Generali

To put that into perspective, the RPI was 9.7 in 1952 and 240.8 now.

Inflation as measured by the RPI has been about 24x.

However, houses being bought today are very different from those that were up for sale in 1952. How much of the increase in price is down to double glazing, central heating, laminated flooring/fitted carpets, fan ovens, down lighters, fitted kitchens including dishwashers and freezers, multiple toilets/bathrooms, internet, TV & telephone connections?

The answer is nobody knows although doubtless many claim to know.