£4000 in 1974

[Bald Rick]

Where are you getting £1200/ acre? Higher than I would have expected, and indeed than a quick Google suggests.

Paid £1650/ac in 1986 for prime grade 2 land on the Sainted Isle. Would have thought 1974 would be less than £1000 tbh

 

[Bald Rick]

Paid £1650/ac in 1986 for prime grade 2 land on the Sainted Isle. Would have thought 1974 would be less than £1000 tbh

I was way out … average Welsh price in 1974 was £402/ac … which Dafydd Wigley called “disgracefully high” and a bar to young farmers

https://hansard.parliament.uk/commons/1975-04-07/debates/539fb5d5-e90f-4836-99a9-025b3f0e1673/AgriculturalLandPrices

Nothing changes

 

[Farma Parma]

Same tractor in 1969 £800

1958/59 not sure of exact year MF35 was £626 & we still have it !! Hangon tho thats old 240pennies in the pound money hmmm wonder whats thats equ to 1970s sterling?

 

[Wesley]

1958/59 not sure of exact year MF35 was £626 & we still have it !! Hangon tho thats old 240pennies in the pound money hmmm wonder whats thats equ to 1970s sterling?

1958-1975 would be about 32821 5p mars bars

 

[Blue.]

120 acre here in 71 was £20k,chap who bought it inherited the money when he was 21,by 80 he’d sold for £190k and didn’t cover his debt.
Same farm was 145acre in 1919 and made £3.5k and sold again in 1945 for £10k.

 

[BuskhillFarm]

Dad bought a 70acre farm for about 10k around then

 

[Forkdriver]

Where are you getting £1200/ acre? Higher than I would have expected, and indeed than a quick Google suggests.

Schoolboy error. It's price per hectare from a Hansard report.

Paid £1650/ac in 1986 for prime grade 2 land on the Sainted Isle. Would have thought 1974 would be less than £1000 tbh

See my edit

 

[organicguy]

1969 our farm of 640 acres with sitting tenant on 1948 tenancy sold for £100,000. Agents wanted £120000 from my father who was joint tenant with his father and brother. He told them where to go.

 

[Bramble]

£4000 invested in the American stock market in 1974 would have made over £700,000 (if reinvesting dividends)

 

[britishblue]

Same tractor in 1969 £800

My dad bought a new Ford 4000 in 1969 for £850. Mum found the invoice a few months ago in the office,,,,,,and we still have it but it really only works the cement mixer these days!

 

[Devil's advocate]

So you could easily buy a new tractor, you would struggle to buy half a new tractor for the equivalent today

52K would buy a tractor much better than a David Brown 990 with narrow door flexi cab, it did have a power loader which for the time was decent.

I'd say spec for spec, the money, tractor & car wise not much different.

I suspect house & land wise 4K in 1974 would buy a lot more than 52K now.

Although was poster said average house price was 9K then. So 2.25 more than the 4K so 2.25 times 52k is £117K

117K will still buy a terrace house in Barnsley, but that is not an average house.

 

[Devil's advocate]

Been on google again average house price was just over £4K in 1974

Its hardly a shock revelation but houses must have gone up four fold in real terms.

Next snowy day, I must work out how many Mars bars it takes to buy an average house, over the last 50 years.

 

[Lowland1]

Been on google again average house price was just over £4K in 1974

Its hardly a shock revelation but houses must have gone up four fold in real terms.

Next snowy day, I must work out how many Mars bars it takes to buy an average house, over the last 50 years.

My aunt bought a new 3 bed bungalow in a village near Lincoln for £ 3750 in 1974.

 

[Devil's advocate]

Historical UK Average House Price Graph (From 1952 - 2024)

A table of data and graph showing what the average house prices based on Nationwide's mortgage/loan data

www.propertyinvestmentproject.co.uk

Puts the 2009 crash in to perspective.

 

[David.]

Our house in the village was £28k new, in 1979/80, when I was at school.
We paid £79k for it in 1991.
It stands at £340k today.
In 1982 we spent +/-£20k putting up a 90'x60' Dale shed, for cows and silage.
Shoudda gone to Specsavers, as they used to say.
I'd love to go back and kick some sense into my 18yr old self.

 

[Devil's advocate]

My aunt bought a new 3 bed bungalow in a village near Lincoln for £ 3750 in 1974.

So to sum up, Dad was lucky to inherit £4K. If it actually existed of course.

 

[Lowland1]

So to sum up, Dad was lucky to inherit £4K. If it actually existed of course.

Twas a fortune in it's day.

 

[Devil's advocate]

Our house in the village was £28k new, in 1979/80, when I was at school.
We paid £79k for it in 1991.
It stands at £340k today.
In 1982 we spent +/-£20k putting up a 90'x60' Dale shed, for cows and silage.
Shoudda gone to Specsavers, as they used to say.

But not many people did.

Your family would need somewhere to keep the cows & store the silage. Conveyors were fashionable at the time or self feed.

Edit Sorry early 70's for conveyors, it must have been a short lived idea.

 

[Devil's advocate]

Twas a fortune in it's day.

I'm suprised because there was 6 of them & Grandad only started out as a steel worker. Then tenant farmer, then bought a farm.

I'm clearing my house out which has been in occupation by my family since 1929 & finding a lot of suprises.

Maybe the best one is Great Granddads Sunday school prize book dated 1886, "Last of the Mohicans". Not to mention photos of my Grandma dressed up as if she was going to a Charleston dance. So slim in those days, almost all of them but fat by the time they got to 50.

 

[glasshouse]

1969 our farm of 640 acres with sitting tenant on 1948 tenancy sold for £100,000. Agents wanted £120000 from my father who was joint tenant with his father and brother. He told them where to go.

Who bought it