The average price of a home when The Queen ascended the throne in 1952 was just £1,891.
At the time around 32% of people owned their own home - compared to 65% today.
At under £2,000 - £62,000 in today’s money- the prices sound miniscule compared to today’s prices where the standard cost of a home today is £269,914, according to Nationwide.
It means average house prices are more than four times higher than they were seven decades ago at the start of the Queen’s long reign, Manchester Evening News reported.
In 1952 the typical home cost four times what the average annual salary was at the time.
Today the average property costs almost seven times our earnings.
Data from Nationwide, also celebrating its 70th anniversary, shows there was a steady increase in house prices up until the 1970s before the price of a home shot up towards £150,000 around 1972.
Robert Gardner, Nationwide's chief economist, said: “Despite growing headwinds from the squeeze on household budgets due to high inflation and a steady increase in borrowing costs, the housing market has retained a surprising amount of momentum.
“We continue to expect the housing market to slow as the year progresses. Household finances are likely to remain under pressure with inflation set to reach double digits in the coming quarters if global energy prices remain high.
“Measures of consumer confidence have already fallen towards record lows.
“Moreover, the Bank of England is widely expected to raise interest rates further, which will also exert a cooling impact on the market if this feeds through to mortgage rates."
Borrowing costs in 1952 were at 4.0% compared to 1.0% currently.
The average house price began to rise and fall again up until the 1990s, when prices climbed towards the region of £200,000. After a small decrease towards the end of the 90s, house prices then began to rise steadily year on year.
Around the time of the recession in 2008 house prices reached a new high of £300,000.
Chancellor Rishi Sunak has set aside £28million of taxpayers’ money for the four-day event, a ccording to the government’s March 2021 budget.
The government promises the money will be worth it though, as it will be a “once-in-a-generation show”.
The celebration is broken down into several events, such as the Platinum Jubilee Pageant , which is costing £15million alone.
The £28million total is being divided accordingly, with some of it going to help revamp venues - such as £3million going solely to support village hall improvement projects in 100 different venues.
