As one of the largest landowners in the world the Royal Family are no strangers to the importance of property. The Queen has seen property crashes, recessions, changing politics, wars and changing ideals. Property prices have risen over 130 times since the Queen came to power – now that is some great capital appreciation! In celebration of the Queen’s Platinum Jubilee we want to deep dive into the history of property over the Queen’s 70 year reign.
Property in the UK over the last 70 years
The average cost of a new house was £1,891 (around £65,224 in today’s money). The average salary was £10 a week (roughly £339), so buying a property was no mean feat, even then.
1960’s – The Swinging sixties
House prices continued to rise along with the average income, which now stood at £960 (around £21,925) per year. The average cost of a home was now £2,530 (approximately £55,784).
The mortgage market took off and house prices flew. At the start of the 70s the average house price was £4,057. By the end of the decade, the average house price had quadrupled to £19,925.
Margaret Thatcher gave people the right to buy their council houses. This shot up house prices like never before, reaching an average price of £20,268.
Spiralling interest rates led to the housing crash at the start of this decade. Even though property prices dropped by 20%, the average cost of a home was still £58,153. This was twice as much as just five years earlier.
2000’s – The New Millennium
New millennium, new increase in house prices. By 2005, house prices leapt nearly £70,000. This meant the average property cost a staggering £156,236.
By 2015 you’d need around £197,890 to buy a house. While the average salary had only crept up to £27,600.
2020’s – The Platinum Jubilee
In the decade of the Queen’s Platinum Jubilee, according to Rightmove, in 2022 the average UK house price has topped £350,000!
Over the last 70 years this proves that regardless of recessions and economic crashes, property always comes out on top. Especially as a long term, good investment.
The world’s primary feudal landowner is Queen Elizabeth II. She is Queen of 32 countries, head of a Commonwealth of 54 countries in which a quarter of the world’s population lives, and legal owner of about 6.6 billion acres of land, one-sixth of the earth’s land surface.
Most of the land falls under the Crown Estate, which essentially operates as a real estate business. Love them or hate them, we can all agree on something, The Royal Family have a fantastic property portfolio.
The Queen has a total of 7 official royal residencies that she splits her time between, some of them spending months at a time.
Our TOP 7 Royal properties from the Platinum Jubilee
Buckingham Palace – see the Horse Guards Parade during the Platinum Jubilee
The pièce de résistance is obviously Buckingham Palace which has remained the official London residence of the United Kingdom’s monarchs since 1837.
The palace has a total of 775 rooms, including 188 staff bedrooms, 92 offices, 78 bathrooms, 52 royal and guest bedrooms, and 19 state rooms – to name a few!
Windsor Castle – host of Platinum Jubilee music events
For over 900 years, Windsor Castle has been both a private home and an official royal residence for the British Royal Family.
The Queen spends weekends at Windsor Castle away from the business of London and also stays at the castle for a month over Easter during a period known as Easter Court.
Based in Aberdeenshire, Scotland, Balmoral Castle is the Queen’s summer home and sits on 50,000-acres with 150 buildings. It is known to be one of The Royal Family’s favourite holiday destinations.
St. James’ Palace – watch the Platinum Jubilee live
Before the reign of Queen Victoria, this was the London residence of the monarch. It is an important property of the Royal Family as it is where the Garter King of Arms formally announces the accession of the new king or queen.
This London property is the current home of Prince Charles and Camilla Parker Bowles.
It has been a home to many royals including Queen Elizabeth II and Prince Philip until 1947, the Queen Mother from 1953-2002 and Prince William and Prince Harry until they moved to Kensington Palace in 2011 and 2012.
The former home of Princess Diana, as well as Prince Harry and Meghan Markle, has 547 rooms.
It was the birthplace and childhood home of Queen Victoria and since 2017, Apartment 1A has been the main home for Prince William, Kate Middleton and their children.
The royal family usually celebrates Christmas at Sandringham House which is a 19,000-acre estate near Norfolk, England.
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