Today in the office we have been discussing the 3 Kings. Michelle’s friend’s son is playing a spaceman, apparently a modern take on a king, in the school nativity play!
It got us discussing why did the 3 kings give Gold, Frankincense and Myrrh as gifts? Wikipedia explains it simply – “The three gifts had a spiritual meaning: gold as a symbol of kingship on earth, frankincense (an incense) as a symbol of deity, and myrrh (an embalming oil) as a symbol of death. This dates back to Origen in Contra Celsum: “gold, as to a king; myrrh, as to one who was mortal; and incense, as to a God.”
Michelle’s friend’s son is giving chocolates. I can only presume they will get eaten by his classmates afterwards. Remember, this is supposed to be a modern nativity! Hopefully, they will be gold chocolate coins!
Gold, of course, is also seen as a symbol of wealth. Many investors see it as a safe haven. But has it been the best investment over the past 10 years? As the story goes, one of the wise men gave the gift of gold but gifting a home might have been more financially prudent.
The average price of a house in the UK is currently £294,559, this is a 73% increase in value compared to 10 years ago (£170,295). In comparison, the value of gold has risen by 37% over the same period.
While price correction is anticipated in the property market over the course of 2023 and 2024, the Office for Budget Responsibility anticipates price growth will return from 2025. It will be interesting to see another 10 years’ time, which has performed the best!
If you would like to talk about property investment and buy-to-let opportunities in Lancaster and Morecambe, please get in touch. At JDG we are here to help. You can email me at josh@jdg.co.uk or call me on 01524 843322
Thanks for reading
Josh