Property prices 86 times higher now than at coronation

Research by HSBC has found that the average property price is now 86 times higher than at the start of the Queen’s reign in 1952.

At the start of her reign, the average property was priced at £1,891, compared with an average of £162,722 today.

By comparison, retail prices have risen by a multiple of 25 over the same period.

The number of dwellings in the UK has almost doubled since 1952, with 14.1 million at the start of the Queen’s reign, compared with an estimated 27.3 million today.

But on the minus side, the number of new homes being built has plunged. The number of new homes built each year has fallen by 46%, from 248,320 in 1952 to 133,840 in the latest estimate.

Two-thirds of the country are now owner-occupiers, compared with one-third in 1952. And at the start of the Queen’s reign, half of the country was renting privately compared with 14% today.