1952 VS 2022
The start of Queen Elizabeth's
We looked back at the year 1952 to see how much everything cost at the start of Queen Elizabeth's reign, compared to now...
Did you know that, in actual terms, the average household today is nearly twice as wealthy as they were in 1952, when Queen Elizabeth ascended to the throne? The average weekly wage has increased by 61 times over the past 70 years, while our state pension has increased by 123 times.
The cost of homes has increased significantly, for example, property prices have increased from £1,891 in 1952 to £350,000 now. Additionally, since the 1950s, the price of energy has increased significantly. In contrast to the current weekly average of £60, coal and power needed for fire and lighting cost less than £1 per week.
A middle-range Austin A30 cost around £500 in 1952, which is equivalent to little under one year's income now. Today, new automobiles cost more than £20,000, and there are new ways to buy them, such PCP and HP.
Previously, the typical weekly take home wage was about £9; today, it is £550. Our food costs have climbed significantly—roughly 35 times, and it’s interesting to note how much the price of cigarettes has increased, from 18p a pack in 1952 to £13.99 now…
If we look at the pricing of the furniture in our houses, we see a huge price difference. However, when compared to the average annual salary, only the wealthiest households would purchase a TV, as spending £79 on a TV when your annual salary is £550 would eat up about 1/5 of your earnings. However, the overall cost of a TV in 1952 was far lower than it is today.
Currently, the typical price for a large American fridge-freezer is roughly £2300; even if you didn't spend any money on other things, it would still take you years to save for. In the 1950s, we could get a toaster for as little as £6, if not less, while our average kettle costs £30 and a toaster cost about £20-£30.