How much would the Great Fire of London cost today?

Magazine Issue:

The digital technology, a new battle field [3]

Magazine date:

Oct 2016

According to analyst Policy Expert, the occurrence of a fire in London as devastating as the one that took place in 1666 would cost today 499 billion GBP (647 billion USD).

Monument to the Great Fire of London

Back then, a quarter of London dwellings had been consumed by the blaze following the spread of a fire that broke out following a malfunction of a cooking appliance in Pudding Lane bakery. Policy expert's estimate has rested on the average price of 572 949 GBP (743 126 USD) per house.

This amount does not take into account the value of the furniture and goods inside those dwellings. A quarter of the London dwellings would today represent 870 000 units.

At that time, this percentage would only touch 13 200 houses, 87 churches, administrative buildings and Saint Paul Cathedral that were set ablaze. This simulation stands as a reminder that today 50% of fires affecting housing buildings are still accounted for by failure of a cooking appliance.