The very first Christmas presents were Gold, Frankincense and Myrrh, but things have changed since then. We take a trip down memory lane and look at the trends of Christmas presents past and present - and compare the cost too.

And this year's Christmas No. 1 is…

They say that fashion goes around in circles. This year's must-have Christmas present for the discerning child is, once again, the Furby. The first Furby craze was back in 1998, when over 40 million were sold worldwide (according to eBay).

This interactive cuddly toy can talk, sing and hold 'conversations'. Back in 1998, it would have set you back £24, but were in such high demand that they did trade hands for up to three times the retail price. Today Argos.co.uk has them for £59.99.

EBay warns parents to watch out for Furby imitations, including 'Baby Brainy', 'Furdy' and 'Foobie'.

The swinging sixties

This decade brought us hippies, the Beatles, The Rolling Stones, Jimi Hendrix - and Mr Potato Head.

According to vintageepoque.com/, Mr Potato Head was one of the top selling toys in 1964. He cost under a dollar in 1952 when it was first released. Kids had to provide their own potato and stick in the eyes, ears and mouths themselves. They'll set you back about £5 today on amazon.co.uk. This Darth Tater will set you back a little more.

70s icons

In the 1970s, Raleigh Choppers were the kids' bike of choice. The striking look brought a taste of the all-American Harley Davidson to the suburbs of the UK. Apparently they were great for stunts, but steering was tricky.

A MK 2 Raleigh Chopper was £59.95 in 1975 and by 1977 was £73.95 according to raleighchopper.info. Back then, the average gross household annual income was £4,629, so the bike cost close to one week's wages.

The 1977 retail price is the equivalent of £419.30 in today's money. The bikes made a comeback recently and are retailing on amazon.co.uk for £237.50.

Another great symbol of the 1970s, Space hoppers, retail for around £10 today. There are still space hopper fitness classes and parties in the UK, as nostalgic adults strive to keep the bounce alive.

Computer games through the ages

Computer consoles make their way down many children's chimneys at Christmas. It's fair to say modern computer consoles have come on leaps and bounds since the days of Pac-Man and Space Invaders. But how have the prices changed?

Back in 1982, the average gross annual household income was £8,733*. That's when the ZX Spectrum 16K model was launched at a retail price of £125 (or nearly a week's wages) - the equivalent of £378 in today's money. The model is recognisable by its rubber keyboard - which was pretty high-tech at the time - and the rainbow motif in the corner.

The Sega Megadrive was launched in 1990 at £190, which is the equivalent of £372.40 today. The average gross household annual income was £17,069 in 1990, so a Sega Megadrive would have set your average mums and dads back by nearly a week's wages.

The Xbox 360 was launched in 2006 at £210 (about a third of a week's wages) for a basic model and £280 (closer to half a week's wages) for the premium model. The PS3 launched in 2007 at £425 (about five days' wages). So although the PS3 cost more in today's money than any of the other consoles when it was launched, it was actually more affordable in terms of average income than the Megadrive or the ZX Spectrum. The average income at the time was £34,661.

Which children's toys make you feel nostalgic? And how much did they cost? Let us know on Twitter, Facebook or Google+. And if you liked this article, please share it!

*Gross household annual incomes figures are from the Office for National Statistics.

Image: © lordalea - Fotolia.com