Platinum Jubilee: Dunfermline estate agent returns to property market in Queen’s 70-year reign

A DUNFERMLINE estate agent reflected on the changes in the property market in light of the upcoming Queen’s Platinum Jubilee.

Local solicitors and maloco+associated estate agents have looked to the industry over the past seven decades, with director Michael Maloco welcoming the many changes that have taken place.

“Having recently had several conversations about the evolution of society over the past 70 years, we thought it would be interesting to review the facts and figures related to one of the main areas of our activity, namely the real estate market.” he said.

“Home prices, interior design choices, homeowner aspirations and housing market demographics can all be a useful barometer of the country’s economic health and provide a window into societal trends.

“So how has the real estate market changed over the last 70 years? Well, on the one hand, the 1950s was the first time many people took advantage of indoor toilets, whether in as a new owner or as council tenant.”

The company’s senior appraiser, Kieran Newman, said house building at the time of the coronation was “at breakneck speed”.

“Just seven years after the end of World War II, slums and bomb-damaged properties were being demolished, and by the end of the 1950s more than two million new homes had been built,” he said. commented.

“One of the most remarkable things about it, beyond the actual number, is that two-thirds of it was new municipal housing. Thirty years later, the municipal housing boom of the 1950s fueled Margaret Thatcher’s flagship policy, the right to buy, and in many ways helped change the face of home ownership in the UK.

“In Scotland alone, half a million council tenants bought their homes, dramatically increasing the number of homeowners. In 1952, two-thirds of people rented their homes. Today, almost two-thirds of people own For better or for worse and whether or not one agrees with the politics or the philosophy, we are today in many ways the property democracy that the conservatives of the 1980s championed and the roots of this go back to the years around the coronation.

Research by Maloco + associates shows that in 1952 the average house price in Dunfermline was around £1,500. The workplace was still a male-dominated arena and the average wage for a man was between £8 and £9 a week and just £5 for a woman.

“That, expressed as a multiple of the average household income, means that those who bought a house in 1952 paid around three to four times their annual income,” Maloco added. “Today, that figure is closer to seven times the annual salary. In 1952, the average age of a first-time buyer was 27. Today, nationally, it’s 34, although it is closer to the 1952 figure here in Dunfermline.