As the country prepares for the long weekend of Jubilee Celebrations we have taken a look back in time to see what has changed over the last 70 years in the mortgage market. 
 

Did you know? 

• In 1952, the UK built 248,000 new homes – that’s around 75,0000 more than 2021, impressive!
• During the Queen’s reign we have become a nation of homeowners - when the Queen took the throne, there were 4.1 million owner-occupiers, today that figure is nearer 18 million.
• In 1952, the average price of a house was £1,891 compared to £278,000 in 2022 – that’s around 15,000% inflation.
• In 1952, there were just 1.65 million mortgage borrowers - today there are around 10 million mortgages held by owner-occupiers, owing approximately £1,600,000,000,000 (£1,600 billion)
• In March 1952, the Bank rate increased from 2.5%, to 4%

The team at Complete wish you all a very happy long weekend over the Jubilee.