Here’s how London’s royal borough property prices have changed
Royal borough residential property prices in the capital have rocketed since the Queen took the throne in 1952.
Prices in the boroughs of Kensington & Chelsea, Greenwich and Kingston-upon-Thames have increased sharply over the past seven decades, new analysis from JLL shows.
Kensington & Chelsea posted a 570% increase in property prices, even after adjusting for inflation. The average property price in the borough in 1952 was £6,836, compared with £1.37m in 2022, far exceeding the inflation-adjusted price of £204,936.
Royal borough residential property prices in the capital have rocketed since the Queen took the throne in 1952.
Prices in the boroughs of Kensington & Chelsea, Greenwich and Kingston-upon-Thames have increased sharply over the past seven decades, new analysis from JLL shows.
Kensington & Chelsea posted a 570% increase in property prices, even after adjusting for inflation. The average property price in the borough in 1952 was £6,836, compared with £1.37m in 2022, far exceeding the inflation-adjusted price of £204,936.
Greenwich and Kingston-upon-Thames have also seen exponential price rises. Average property prices in Greenwich have risen from £2,294 in 1952 to £429,983 currently, and in Kingston-upon-Thames from £3,032 to £520,986.
Marcus Dixon, director of UK residential research at JLL, said: “Over the past 70 years the housing market has changed significantly, and we have clearly seen the price of property grow significantly. This is partly due to the access to debt, and because people can borrow more at lower rates.
“We have also seen the price of property outperform inflation, and average wages have grown over the past 70 years as well.”
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Photo: Kynance Mews, Kensington © Bruno Martins/Unsplash
