Whether you’re a royalist or not, there’s no doubt that the Queen and the rest of the Royal Family contributes a huge amount to the UK economy. But
Whether you’re a royalist or not, there’s no doubt that the Queen and the rest of the Royal Family contributes a huge amount to the UK economy. But new research has revealed that they could be influencing something a little closer to home. House prices are dramatically higher in nations with a monarch, according to the latest data.
Meanwhile the UK’s adored Queen Elizabeth II doesn’t rank quite so highly, coming in at the seventh highest – but for Australia’s thriving property market.
Australia has an average property cost of £4,605 per square metre, making it the highest value under the Queen’s rule.
The UK isn’t far behind, with an average house price of £4,314 per square metre.
However, the average across the Queen’s Commonwealth nations is just £2,657.
Managing Director of Enness Global Mortgages, Hugh Wade-Jones, commented on the findings.
“It doesn’t get much higher in high society than rubbing shoulders with a royal,” Hugh said.
“As a result, some of the most prestigious pockets of the global property market are situated in and around a royal residence.
“This seems to influence house prices at the top level, with nations home to a monarch commanding almost double that of their monarch-less counterparts.
But while the Queen didn’t top the charts, she does have an edge over the other monarchs in the list.
“Monaco is undoubtedly at the top of the monarchy property market,” noted Hugh.
“However, while our own Queen Elizabeth doesn’t reign over the most expensive kingdom, she does have the most diverse and extensive portfolio.”
Queen Elizabeth II presides over 17 nations in total, with an average property price of £2,657 per square metre across the lot.
But it’s not the only way that the monarchs have an effect on the UK economy.
A consultancy firm, Brand Finance, estimated in 2017 that the monarchy’s annual contribution to the UK economy is around £1.8billion per year.
David Haigh, CEO of Brand Finance, commented on the data at the time: “The monarchy is Britain’s national treasure, both symbolically and economically.
“Especially in the age of Brexit, Britain can rely on royal diplomacy to facilitate trade relations with the Commonwealth and the rest of the world.”