Milton Keynes House Prices Show a Healthy Increase

25/06/2018
In the last year, house prices in Milton Keynes have increased by an average of 6% which was a little under double the increase for the whole of England (3.67%) . Although the town's average house prices rose, sales volumes fell: there were only 285 sales in February 2018 (Source: Land Registry, most recent data available) compared to 2017 where there were 361.

Milton Keynes' population has generally grown over its 50-year history and continues to grow steadily although there was something of a spurt between 2001 and 2011, when it grew by 17% (Source: Milton Keynes Council (Census Profile)). Sales volumes have clearly not followed this trend either; they actually decreased 18% in the period 2015 - 2017. 

So where are these people actually living? Many are clearly renting rather than buying properties in the town, something which leasehold flats are highly suited to. From its beginnings, Milton Keynes consisted of many flat blocks and maisonettes, not least to reduce the housing congestion in London. You can find many of these around the restaurants and bars in The Hub and in the Theatre District on Lower Twelfth Street.

The average rent in Milton Keynes is now £1,041 pcm whereas the average rent in London is a whopping £2,905 (Source: Home.co.uk),  a difference of £22,368 a year making commuting from the town to work in the capital a favourable option compared to renting in the metropolis. The town has regular transport links to various Central London stations, bolstering its reputation as a prime communications hub.

Milton Keynes Property Prices 2018

Detached: £455,388
Semi-detached: £271,538
Terrace: £226,642
Flats and maisonettes: £158,937
Average: £273,310
Cf. 2017 +6%
Source: Land Registry UK House Price Index 2018

The following article (continues below) looks at recent news regarding Milton Keynes's property scene. Click here to find out more about buying a home in Milton Keynes.

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Milton Keynes Property Overview


Due to renting being popular in Milton Keynes, it is a great area for Buy-to-Let properties. If you are looking to invest, Milton Keynes is a great location.

There are very few authentic Victorian properties in the centre of Milton Keynes, but there are Victorian properties in surrounding towns such as Stony Stratford, Bletchley and Woburn. There are Victorian style houses in the centre such as those on Park Road.

There are many blocks of flats in Milton Keynes such as those on North Row and Lockhart Avenue. Apartments within new homes can be found in the new development Brooklands, Fen Street, as well as large, detached houses perfect for families.

Click to find out RICS Surveyor tips for Milton Keynes and how to book a home buyers survey for properties in and around the location.


Milton-Keynes

Off-Plan

Off-plan developments include The Gables, which consists of 34 three, four and five bedroom apartments in a prime location near Wavendon Golf Club, designed for contemporary living.

Help to Buy and Shared Ownership

New build developments where Help to Buy is available include those at Newton Leys in San Andres Drive.

Shared ownership properties can be found in Hadrians Drive, Bancroft and Angus Way.

Rental Scene

Average rental prices in Milton Keynes in June 2018 were £241 per week and the rental price range varies from £110 - £413 per week.

Milton Keynes Postcodes

Postcodes in the Milton Keynes urban area run from MK1 to MK15.

Most expensive Milton Keynes Street

Pinkard Court has the highest average house price of £1,229,786 (June 2018).

Up and coming local areas

Up and coming local areas near Reading include Newport Pagnell, Newton Longville and Bletchley.

Milton Keynes's Council Tax Band D Charge 2018

£1,826.63

 
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