Home » Uncategorised »
Monopoly Makeover Reveals Real Price of Property
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
As Monopoly celebrates its 80th birthday, just how inaccurate are its prices in today’s market?
An estate agent has given Monopoly a makeover to reveal the real price of buying a property in London today.
While Old Kent Road may still be the cheapest place to buy, it will cost a lot more than £60 to purchase a home there.
The average house price on Old Kent Road is now £261,499. The other brown location, Whitechapel, costs even more, with the typical property valued at £379,000.
Vine Street, one of the orange spaces on the board, has dropped to the third cheapest (cheaper than the light blues – The Angel Islington, Euston Road and Pentonville Road). On the board, you can buy a property on Vine Street for just £200, but in reality, the average home costs £539,663.
Its orange neighbour Malborough Street, costing £180 on the Monopoly board, has become the third most expensive location, with house prices averaging a huge £2.5m.
Mayfair, which takes the top spot on the board, at £400, is still the most expensive place today, where house prices are £3.5m on average.
Hanover estate agent has used house price data for October 2015 to compile the new board to celebrate the game’s anniversary.
Director at Hanover’s West End office, Richard Douglas, comments: “We anticipated that there would be differences in the property market from 80 years ago, however, the extent to how much it has changed is suprising.”1
See an enlarged image of the board here.
