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Although interest rates are lower now than at the time of the 1953 coronation, house prices and monthly mortgage interest rates have seen a ‘meteoric’ rise, with many locked out of homeownership today as a result.With King Charles III’s investiture as King on Saturday (May 6), some in the mortgage industry have taken a look back on what has happened in the market since the coronation of the late Queen Elizabeth II in 1953. Back in 1953, the average house price in the UK sat at just under £1,900. Adjusted for inflation,...

Markets have been too negative on global economic prospects but the UK could be a laggard when it comes to a recovery, economists and investors have suggested.Steven Bell, chief economist at Columbia Threadneedle, said consumer confidence had been very low in Europe and the UK due to concerns about the impact of higher energy costs, but could rise over the year - albeit more swiftly on the continent than in the domestic UK market.According to Bell, energy subsidies mean the issue has not had as profoundly negative an impact as originally feared. Therefore,...