100 home sales in the past 2 years had King Charles in the address
- 100 HOME SALES IN THE PAST 2 YEARS HAD KING CHARLES IN THE ADDRESS.
- Charles III, King of the United Kingdom and the Commonwealth Realms will be crowned at a ceremony in Westminster Abbey on Saturday 6th May. This will be the 40th coronation to be held at the Abbey since 1066.
- In the past two years alone there have been over 8,800 property sales on streets with coronation-related street names. Nearly 100 sales taking place with a property address including ‘King Charles’.
- Properties with ‘King’ in the street name achieved an average sales price of just over £500,000, compared to ‘King Charles’ £360,000 and ‘Coronation’ £226,000.
- Neighbourhoods across the country are encouraged to get together for the Coronation Big Lunch and Big Help Out. More than 80% of home movers rate pleasant neighbours as important when choosing a property to buy, while 3 in every 4 value a sense of community. Source: Dataloft, Land Registry https://www.gov.uk/government/organisations/land-registry, based on sales April 202 to March 2023, Property Academy Home Moving Trends Surveys 2022
A fascinating insight into all things royal etc. with this look at property sales with coronation connection.
Apart from the fun element of these stats, it is worth noting this: Over 80% of buyers rate pleasant neighbours as important. Afterall: “Neighbours, everybody needs good neighbours”.
75% of buyers valued a sense of community, which is a breath of fresh air!
A delve into the past.
We are having a lighthearted look at property and it’s coronation connections today. Therefore, we thought it would be fun to look at property prices since the last coronation in 1953..
in 1953 the average price of property in the UK was £1,891. In todays money that’s £38,800! The average wage was just £7 a week (£9 for men and £5 for women). So a property was 270 times the average weekly wage.
Why was property so cheap?
Back in 1953 there was much less pressure to get onto the property ladder. Most working people rented a property from their local council and did not consider buying.
Some 17 years on and in 1969 as the UK said a fond farewell to the swinging sixties, the price of a house in the UK would set you back £4,312. In todays money that’s £47,500! The average wage by now had risen to just under £25. Therefore whilst property prices had risen by 228%, wages had gone up by 357%.
Into the 80’s
Onto 1980 and the start of The Thatcher years. By now it was law that every council tenant had the right to buy their council property.
Average house prices in 1980 were now £22,677 which is around £75,000 in todays money. The national average wage was by now £124 a week. Therefore property prices had risen by 525% and wages by 496%.
As the world welcomed a new millennium, the average UK property price in 2000 had shot up to £89,597 which is £155,612 in todays money. The average wage in the UK was now £437 a week. Therefore while property prices rose 395%, wages rose 352%.
And so here we are in 2023 and the average UK property will now set you back £288,000 while the average UK wage is now £630 a week. Therefore in the last 23 years property has risen 321% while wages have only risen 144%.
I hope you have enjoyed this little property and wages trip down memory lane. For a lot of you, these figures will be like a science fiction film! For some it will be a nostalgic look at a snapshot of our lives!
What are you going to be doing over this amazing weekend? Are you celebrating or contemplating selling your home? If you call us this weekend and say “Sell my house” or Sell my Flat” or are just looking for a property valuation and so ask can you: “Value my property” or “Value my house, as Estate Agents Herts and Estate Agents Essex, we are still open for business 9am ’til 10pm everyday over the bank holiday weekend.