When Monopoly was first released in the UK way back in 1936 the most expensive areas on the board to buy, including Park Lane and Mayfair, were priced at £350. According to figures from Halifax, buying in these areas today would cost at least £1.4 million!
The average house price on the board as a whole is £208, while today’s equivalent would be £788,106. Even more telling is that a Londoner earning the average wage of £26,000 looking to buy would not be able to afford any property on the board at all.
Despite being a humorous way of discussing property prices, the comparisons do demonstrate just how much the London market has changed over the years, not just in cost but also in terms of desirability and demand.
Craig McKinlay, mortgage director at Halifax told the Evening Standard: “While drawing a comparison between the values placed on these areas in a board game and the actual average house prices provides a light-hearted look at the London property market, it does present a realistic picture of the capital’s most popular postcodes.”
Mayfair for example is still regarded as super prime and is as unattainable to most as it was in the 1930’s.
Meanwhile, Angel in Islington, priced at only £100 on the board, would set today’s buyer back an average of £610,382, although properties in the area can sell for in excess of £2.5 million. As well as this it is now one of the most sought after and fashionable resdiential locations in the city, a far cry from its unfashionable status in 1936.
Quote from The Telegraph.