On 2nd June 1953 Queen Elizabeth II was crowned and the average UK home cost £1,891, equivalent to £63,511 today. Now in 2023 the average UK house price is £288,000 !
UK house prices have risen dramatically in the last 70 years and as reported by Rightmove last week continue to do so, as shown by the figures below;
Avg. Asking Price April 2023 % Increase Since April 2022
Surrey - £667,668 3.7%
West Sussex - £470,642 1.9%
Hampshire - £403,540 1%
(Source: gov.co.uk, mashroom.com, money.co.uk)
This is encouraging news for us and those already on the market or thinking of selling in the forthcoming months.
As well as price increases, so too has the average age of the first time buyer, this has gone up from 23 years old at the time of the Queen's reign to 34 years old in 2023. I definitely cannot imagine being in a position financially or to be honest mentally at the age of 23, I think football and socialising were still at the forefront of my mind at the turn of the millennium !
So, tomorrow, His Majesty Charles III will be crowned as our new sovereign, I am really looking forward to commemorating this historic occasion; The bunting is up, the children were dressed in their best, red, white and blue for school today and we are Coronation ready ! I just hope the weather cheers up so everyone can enjoy the celebrations they have planned, however, in true British style there will undoubtedly be a shower or two along the way !
After some very early viewings, we will be popping into Midhurst to enjoy the festivities that are taking place in Market Square, and then venturing into Petworth on Sunday to continue celebrating with family and friends.