The classic game of Monopoly has sold more than 275 million copies over its lifetime and has been reimagined for many local areas. Variations such as The Simpsons, Alton Towers and Disney have also been created, but the original London version is still the most recognisable. If we were to look at the current prices of property from the original 1935 board, would Mayfair still top the list?
Which is the most expensive Monopoly square in 2021?
Oxford Circus, with an average property price of £6.77m, is now the most expensive square on the board, compared with Mayfair’s fourth-place ranking at an average of £2.54m. Park Lane retains its second-place spot from the board in real-world prices, averaging just over £3m. The biggest mover in the rankings is Great Marlborough Street, which has climbed a staggering fourteen places up to third position and has an average property price of £2.84m
How much have prices increased in 86 years?
The price increases between the game’s inception in 1935 and today are also staggering, although not wholly surprising. When considering both the street and house prices, the average price across all 22 squares is £313, compared with an average house price of just over £1.65m in real life today. This is a whopping 527,750 per cent more expensive! Even Bond Street, which has seen the smallest increase in monetary value from £480 on the board to just under £461,000 in real life, is still a percentage increase of 95,939 per cent.
Are these prices realistic?
Fortunately, whilst prices have increased by such vast amounts, the amount of money we can earn for a living has also increased, although not on the same scale. It would be fantastic to think that we could still purchase a property on Bond Street for £480, which is less than a monthly mortgage or rent payment for many people.
Anyone looking to purchase a property may wish to consider a building survey London. Conveyancer such as www.samconveyancing.co.uk/homebuyers-survey/home-buyers-survey-london will be able to put you in touch with a local RICS surveyor to ensure the property you are purchasing is worth the asking price. These surveys can also show potential problems that might create additional costs for the purchaser in the future.
Life is not a game of chance
In the real world, we do not always need to roll a dice or take a chance card to determine whether we will win or lose on a property transaction. There is a great deal of information, advice and guidance available, and we can do our own research before making decisions.