A research report conducted by Wayhome, a provider of gradual homeownership, has revealed that the average house price in the United Kingdom has escalated to a staggering 13,724% since the coronation of Queen Elizabeth II.

This striking statistic has prompted the research team to predict that there could be a further increase of £20,000 in house prices following the upcoming coronation of King Charles III in the near future.

Wayhome's comprehensive analysis of historic house price data has shown that the average UK house price was a meager £1,884 in 1953, which was the year of Queen Elizabeth II's coronation. However, this has now skyrocketed to an astonishing £260,441, according to the latest data from Nationwide.

The study also delved into the realm of wage growth, revealing that the average person's income today is £33,402 per year, which represents an exponential increase of 8,821% from the paltry annual earnings of £374 in 1953.

Despite this encouraging wage growth, it is important to note that it has only increased by 295% since 1953, which has lagged behind the inflation-adjusted increase of 511% in the average price of a home.

Nigel Purves, who is the co-founder and CEO of Wayhome, voiced his concern regarding this startling phenomenon, saying, "In the 70 years since the coronation of Queen Elizabeth II, house prices have soared and even after adjusting for inflation, the average homebuyer now faces a considerably larger hurdle when it comes to the cost of homeownership compared to 1953."