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All you need to know – houses for sale in Milton Keynes

by | Nov 15, 2022

Home $ House for sale in the UK $ All you need to know – houses for sale in Milton Keynes

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Whenever looking for a house for sale in the UK or in Milton Keynes, it is vital you look at the market trends and house price fluctuations in the wider area of Buckinghamshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Milton Keynes.

In this article, we will be looking at the city of Milton Keynes in detail so you know how to navigate the area and have a better understanding on where to invest.

Get professional help on the houses for sale in Milton Keynes

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

  • Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
  • Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
  • Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
  • Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
  • Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
  • EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial

A house for sale that is right for you

Many criteria impact the price of houses for sale in Milton Keynes.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

In general, what do houses for sale sell for in Milton Keynes?

For the city of Milton Keynes, the average price a house sells for is £299,937. This value usually depends on the exact location of the house within Milton Keynes as well as other factors like the population growth which is 10% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £425,923
Aerage sold price (semi-detached) £287,014
Aerage sold price (terraced) £261,318
Aerage sold price (flat) £168,352

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Milton Keynes.

Housing category Sale price per square foot
Aerage sold price/sqft £3,172
Aerage sold price/sqft (new build) £3,146
Aerage sold price/sqft (old stock) £3,098

Generalising the bottom table, the average value per square foot of a house for sale is £3,199. This value averages all of the types of houses for sale in Milton Keynes. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Milton Keynes.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.

Are there any important statistics about the population of Milton Keynes?

Are the deprivation levels of the UK any different to Milton Keynes?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Milton Keynes, in particular, the deprivation levels are £0.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

What is the city of Milton Keynes’s social grade score?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Milton Keynes, the percentage of people in the two highest categories, A and B is 27%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £51,125.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (27%).

What’s crime like in Milton Keynes?

In Milton Keynes, for every 1000 people, there is currently a crime rate of 15313%. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (15313% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

How educated are the people in Milton Keynes?

In the city of Milton Keynes, 28% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Milton Keynes is £51,125.00.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

Do the people of Milton Keynes get to enjoy green space?

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Milton Keynes currently has 28 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Milton Keynes in this case.

What is the population of Milton Keynes?

In total, the number of people in Milton Keynes is 238814. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Milton Keynes, depending on where exactly you are.

How has Milton Keynes changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Milton Keynes has changed by 3%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Milton Keynes?

10% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Milton Keynes have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

Are the people in Milton Keynes earning a lot?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (27%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Milton Keynes, this works out to be £51,125.00. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Milton Keynes within Buckinghamshire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Milton Keynes will be looked at by comparing it to the local region, as well as comparing it to the wider region too (South East). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Milton Keynes.

Thinking of a different city and perhaps a different location?

You can consult our list below that goes over a list of cities not necessarily in South East, allowing you to find similar places to Milton Keynes:

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

How are rental yields of the houses for sale different to the rest of the UK in Milton Keynes?

Are there more or fewer houses being built in Milton Keynes?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Milton Keynes that shows the growth in recent years.

1 year 3 years 5 years
Milton Keynes growth rate -1% 10% 13%

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Milton Keynes is important.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Milton Keynes, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; South East. As well as Buckinghamshire, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Milton Keynes £0 £1,218 £1 £0
Buckinghamshire 3.56% £1,345.40 122.24% 16.67%
South East 0.04 1,300.68 £1 16.69%

Assuming that in the future you want to re-sell the house you will eventually purchased in Milton Keynes you might be interested in the number of sales per month (11) that happen in the local housing market. Comparing this figure for Milton Keynes with the above table gives you a good understanding of the profitability of the area.

In Milton Keynes, what is the asking price in general for a house for sale?

When investors make offers for houses for sale in Milton Keynes, the average price asked by the homeowners works out to be £367,057.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Milton Keynes is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Average prices for the houses for sale in Milton Keynes

Average asking price (1 bed) £210,619
Average asking price (2 bed) £258,706
Average asking price (3 bed) £360,294
Average asking price (4 bed) £515,397
Average asking price (5 bed) £833,500

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£258) for houses for sale with this table to get a good idea as to whether Milton Keynes is the right area to buy a house in for you.

F.A.Q.

Are there opportunities for property renovation in Milton Keynes?

Amidst the urban landscape of Milton Keynes, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 7 and on the other hand, there is a planning success rate of nan. It is also useful to take into consideration the population size of the area (238814).

How many property sales occur per month in Milton Keynes?

In the city of Milton Keynes, there are 11 and in the total for the UK, there are around 1.1 million property sales.

What’s the year-over-year population change in Milton Keynes or similar cities?

To work out how the population of Milton Keynes has changed over time, you can look at the population change over a decade which is 10% and the change in a five year period two which falls at 3%. Compare the two and look at the population growth or decline in recent times to really make sure you have a good understanding of the population

In the larger vicinity of Milton Keynes, what is the cost of houses available for sale?

The average asking price of a house in Milton Keynes is currently £258 based on the average price per square foot.

Is purchasing a house in Milton Keynes considered a costly decision?

Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Milton Keynes, this figure stands at £299,937, while the UK average is £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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