1960s. House prices continued to rise, with the average home costing £2,189 (approximately £43,956) at the start of 1960. By the end of the decade some of us were watching TV – in colour. With these higher prices came mod cons.
In the 1950's, according to Nationwide House Price Index, the average price of a house was around £1,891, which is approximately £65,000 in today's money. The average salary was roughly £10 a week, so buying a property was no mean feat back then.
In London, the average total cost of a three-bedroom "unit of accommodation", as the G.L.C. calls it, completed in the year ended 31st March, 1966, was £4,760. including £580 for land, compared with £3,974, including £388 for land in the year ended 31st March, 1964.
1970s. This was a rocky decade with widespread unrest and hardship on the one hand, and a boom in home ownership on the other. The mortgage market took off and house prices flew. At the start of the 70s the average house price was £4,378.
Based on historical property values and adjusting for regional differences in Wakefield and Pontefract, here is an estimate of what homes might have cost in those areas: 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗲𝗱 𝗛𝗼𝘂𝘀𝗲 𝗣𝗿𝗶𝗰𝗲𝘀 𝗶𝗻 𝗪𝗮𝗸𝗲𝗳𝗶𝗲𝗹𝗱 & 𝗣𝗼𝗻𝘁𝗲𝗳𝗿𝗮𝗰𝘁 (𝟭𝟵𝟰𝟬) Two-Bedroom Terraced House – £450 to £700 Three-Bedroom Semi-Detached House – £900 to £1,200 ...
The average home price was $552,600 ($570,511 in 2023 dollars). The COVID-19 pandemic led many people to relocate or find new housing situations, which caused prices of homes in some areas to skyrocket. 1963 was the year with the lowest home prices since the data was collected.
We think that UK mainstream house prices will rise by 1.0% this year and by 24.5% over the next five years. Recent economic and geopolitical uncertainty has contributed to a weaker first half of 2025 than previously anticipated.
Affordability was even better in the 1990s where house prices were just four times the average wage, while affordability in the 1980s was 4.2 times the average wage.
From 1950 to 2024, the price of milk increased from approximately 7 pence to 26 pence per pint, while the price of beer rose from 22 pence to £4.79 per pint. This indicates that beer prices have escalated more significantly than milk prices over the same period.
There were also different models on sale or to rent. Screen size was standard 17” The average price was £65.00 - £70.00 to buy Reliability was most important than the quality of sound or picture.
The average house price was £2,530 while a pint of beer cost 8p, a loaf of bread 5p and a packet of 20 cigarettes would set you back just less than 25p.
For example, a pint of milk rose from the equivalent of 4p in 1965 to today's price of 90p and a loaf of bread from 6.5p to £1.30. “None of us could believe the difference in prices,” said Frances. “Mind you, none of us could believe 1965 was 58 years ago either!”
“85% of new houses sold for less than £750 (£45,000 in today's money). Terraced houses in the London area could be bought for £395 in the mid-1930s when average earnings were about £165 per year.
The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010, contributing to the 2008 financial crisis. It led to a severe economic recession, with millions becoming unemployed and many businesses going bankrupt.
“Introducing the 'World's Cheapest Home! ' in the heart of Pontiac, Michigan” boasts the listing on Realtor. “Priced at a mind-boggling $1 (yes, you read that right), this home is not just a house — it's a ticket to the real estate adventure of a lifetime.”
After this crash, relatively low property prices encouraged more people to buy and attracted more investors into the property market. This caused prices to rise notably again. However, the primary cause of the 2008/09 housing market crash was most likely the global financial crisis which occurred between 2007 and 2009.
