As we approach the Queen’s Diamond Jubilee, new research by Lloyds TSB has looked at the key developments in the UK savings market over the past 60 years. The analysis starts a year before the coronation of Queen Elizabeth II at a time when the country was recovering from World War II and some rationing was still in place.

Key headlines:

• 464% rise in the real value of UK household savings over the past 60 years.
• Savings now stand at an average of over £150,000 per household, including pensions, investments and deposit savings, compared with just below £50,000 in 1951 (at today's prices). Many, however, have little or no savings.
• Household savings recorded their biggest rise in value in the 1980s. Whilst savings fell in the 1970s in inflation adjusted terms.
• Deposit savings' share of total savings has fallen from 42% to 29% since 1951. Pensions and life insurance's share has more than doubled from 24% to 53%.
• Households have saved an average of 6% of their net income since the 1950s.
• The gross interest rate offered on no notice accounts has averaged 6.01% over the past 60 years. In real terms, savings rates averaged 0.29%.
• Savers clubs to investments funds: there have been significant changes in the UK’s savings habits.

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