-Buckingham Palace is estimated to have been worth £11m when the Queen took the throne, its now estimated to be worth £1bn
-Windsor Castle’s estimated valued at “only” £2m when the Queen began her reign, and is now estimated to be worth £189m
-Whilst the average UK house in 1952 was valued at £1,891, it is now worth £162,722
Back in 1952 the Palace is estimated to have been worth a cool £11m, whilst today, 60 years on in the Queen’s Jubilee year, it’s value is thought to be closer to £1bn according to Nationwide’s estimates. Windsor Castle has also increased in value by a staggering 9350%, from £2m in 1952 to £189m today.
It’s not just the Queen’s residences which have gone up in value;
Robert Gardner, Nationwide’s Chief Economist said:
“Nationwide’s House Price Index has been going since 1952, and has therefore run for the Queen’s entire reign. During the Queen’s reign the average UK house price has increased from £1,891 to £162,722 according to our data.”
A Diamond Jubilee history snapshot of house prices
During the last 60 years the Queen has celebrated many milestones, whilst also experiencing some difficult times. Below we take a look at six key events during the Queen’s reign and the average house price at that time.
The Coronation of Queen Elizabeth II
King George VI died on 6 February 1952. Princess Elizabeth was touring Kenya when she learnt of her father’s death and her own accession to the throne. On returning home she was greeted at the airport by Winston Churchill, the first of twelve Prime Ministers who have been in office during The Queen’s reign.
The Coronation took place on 2 June 1953 at Westminster Abbey. At The Queen’s request the ceremony was broadcast on television for the first time, as well as radio.
Average house price
£1,891
The birth of Prince Andrew
Prince Andrew was born on 19 Feb 1960 at Buckingham Palace. Although not The Queen’s first born, Prince Andrew was the first child to be born to a reigning monarch for 103 years. It was on 14 April 1857 that Queen Victoria gave birth to Princess Beatrice. She was the ninth and final child of Queen Victoria and Prince Albert.
Average house price
£2,189
The Queen’s Silver Jubilee
The Queen celebrated her Silver Jubilee in 1977. The Queen and The Duke of Edinburgh embarked on a large scale national and international tour of the Commonwealth, travelling an estimated 56,000 miles!
On Jubilee Day on 7 June 1977 more than one million people lined the streets of London to watch the Royal Family travel to St Pauls Cathedral for a Service of Thanksgiving.
Average house price
£12,689
Fire at Windsor Castle
Fire broke out at Windsor Castle, the oldest and largest occupied castle in the world, on the night of 20 November 1992. Coincidentally this was The Queen and The Duke of Edinburgh’s 45th Wedding Anniversary.
The Fire started in the Private Chapel and approximately one fifth of the Castle area was damaged or destroyed. It took 5 years to restore, at an estimated cost of £37m.
Average house price
£50,168
The Queen’s Golden Jubilee
The Queen’s Golden Jubilee year was marked with large-scale and popular events throughout the Commonwealth with Jubilee Day on 4 June 2002, The Queen and The Duke of Edinburgh; travelled to the Caribbean, Australia, New Zealand, then around the United Kingdom, and wrapped up the jubilee year in Canada.
Average house price
£103,501
Diamond Wedding Anniversary
The Queen and The Duke of Edinburgh celebrated their 60th Wedding Anniversary on 20 November 2007. The Queen is the first British monarch to have celebrated a Diamond Wedding Anniversary.
Average house price
£183,959
Average house prices have now fallen back since their all time high in 2007. At the time of The Queen’s 60th anniversary since her accession to the throne, the average house price was £162,722. This is a remarkable increase of over 8,500% in the last 60 years.
