As the nation is gripped by ‘Royal Baby Fever’ global real estate advisors Colliers International looks at comparative property prices when Prince William was born contrasted with those in 2013 when the new Royal baby was born.
- Prince William was born in 1982 when commercial property rents in the City were £32 psf and West End rents were £22 psf
- The new baby has been born in a year when rents are rising both in the City (£57.50 psf) and in the West End (£110 psf)
- The average UK house price was £30,000 in 1982 and now it is £163,000
Walter Boettcher, Chief Economist at Colliers International said: “In the 31 years since Prince William was born, commercial rents in Central London have steadily risen in value. In contrast, gilt yields in 1982 were returning a safe 11%, but have since fallen steadily to a record low of sub 2% earlier this year, and many are no longer sure about the security of sovereign debt. If Prince William was looking to make an investment on behalf his new son today, he would do well to consider Central London property, especially the West End, which continues to see extraordinary rental growth. And if he were to dig deeper, he would not do much better than looking down the road from Buckingham Palace to Victoria, or maybe beyond Mayfair to Marylebone, where values have also been rising rapidly.
“Any of these would be a very sensible investment for the parents of a future heir to the throne.”
“Congratulations to the happy couple!”