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Milton Keynes Property Investment: History, Present & Future of Milton Keynes

AG Estate Agents • January 27, 2022

If you’re currently looking to purchase a property in Milton Keynes to either live in yourself or as a buy to let investment, then you may be interested in how, why, and when the town was first developed as well as what the future holds for the town. In this blog we will be exploring exactly that.


When, how and why was Milton Keynes developed?


To ease housing shortages in London, Milton Keynes was officially born in 1967 through an Act of Parliament, when the Minister of Housing and Local Government decided to designate approximately 22,000 acres in the Buckinghamshire countryside to be used for the development of the new town. The designated area incorporated many of the existing villages. One of the villages was called Milton Keynes, from ‘middle-ton’ the middle town and ‘Keynes’ from the family that once owned the manor.


‘The Master Plan’


‘The Master Plan’ for Milton Keynes was aimed to balance housing and employment for a population of 250,000 people. ‘The Master Plan’ had specific goals such as:


  • A grid pattern of roads to separate homes from workplaces
  • A town centre containing a shopping centre, leisure facilities and offices
  • Park built along the valleys of the rivers
  • For each area of housing to contain a mixture of homes and facilities
  • Local shops and schools to be in a way that were accessible on foot and by car
  • Pathways, bridges, and underpasses to allow pedestrians and cyclists to travel around the town safely.


Milton Keynes Now:


The councils 2016 – 2031 Plan states that ‘The Borough is one of the fastest growing local authorities in the UK with a large, diverse and dynamic local economy with more jobs than resident workers, resulting in net in-commuting. It has one of the highest start-up rates for new businesses of any local authority and the Milton Keynes workforce is one of the most productive in the country. The majority of all Borough businesses, nearly 90% in 2015, are micro-businesses employing 9 employees or less. Milton Keynes has performed better than many other parts of the UK because it is dominated by the private sector, with around four private sector jobs to every one public sector job. Increases in private sector employment have driven the local economy forward, offsetting public sector job losses, and the overall number of jobs within the Borough has continued to grow. At £10.9 billion in 2015, the local economy is bigger than that of Northampton and Luton and approaching that of some of England’s major cities such as Leicester and Nottingham.’


The Future of Milton Keynes:


Milton Keynes Council have on several occasion attempted to make the town an official city and have again submitted a bid to be granted formal city status as part of Her Majesty The Queen’s platinum Jubilee Celebrations in 2022.


Milton Keynes council have said that ‘By 2031 Milton Keynes will be known internationally as a great city within a thriving rural hinterland. Its thriving knowledge-based economy, its first class lifelong education and training, its diverse population with their excellent, lively and varied culture, its sport and leisure opportunities, and its range of different, high quality places to live, together with the green, open and spacious layout and a transport system that makes its facilities easily accessible to all, will have enhanced its reputation as a pleasurable and exciting place to live, work, play and visit.’


House Building Plans:


As part of the councils plan for 2016 – 2031 the council intend to deliver land for a minimum of 26,500 net new homes within the Borough between 2016 and 2031, principally within and adjacent to the city as predictions are set for the population of the "metropolitan Milton Keynes city area", which includes settlements in the neighbouring local authority areas of South Northamptonshire, Aylesbury Vale and Central Bedfordshire, could rise from 315,000 to 500,000 by the year 2050.


Between the years of 2017 – 2020 alone, 5,342 homes have been built within Milton Keynes, of which 1,149 were affordable homes.


The Experian forecast in ‘The Milton Keynes Economic Growth and Employment Land Study’ states ‘From 2016 to 2031 the greatest increase in the number of jobs within the Borough is forecast to come from two key sectors Land Transport, Storage and Post (4,500 jobs) and Professional Services (4,400 jobs). The number of jobs is also forecast to grow in other sectors of the economy such as Accommodation & Food services, Administrative & Supportive Services, Computing and Finance. Jobs in Residential Care, Health and Education are also expected to increase. While no growth in the overall number of jobs in industry is forecast, some smaller sub-sectors of industry are likely to experience some growth locally.’


Milton Keynes Property Prices:


The average property price in Milton Keynes in January 2000 stood at just £73,465 and in November 2021 the average property price increased to £289,395, an increase of 294% over a twenty-year period. Property prices in Milton Keynes in November 2021 were £18,687 higher than the UK average. 

If you would more information about the Milton Keynes housing market, then feel free to contact us on 0208 614 0740.

By Keval Gudka May 25, 2023
Milton Keynes, located in Buckinghamshire, England, is a unique and vibrant town known for its innovative urban planning and contemporary lifestyle. Designed with a vision of creating a balanced environment for residents, Milton Keynes offers a host of advantages that make it an attractive place to live. However, like any location, it has its drawbacks as well. In this blog post, we will explore the pros and cons of living in Milton Keynes, helping you make an informed decision if you're considering this town as your future home. Pros of Living in Milton Keynes: 1. Modern Infrastructure and Planning: One of the biggest advantages of living in Milton Keynes is its meticulously planned infrastructure. The town boasts excellent road networks, efficient public transportation systems, and a network of pedestrian and cycling paths. This makes commuting within the town and traveling to nearby cities incredibly convenient, reducing the stress associated with transportation. 2. Green Spaces and Parks: Milton Keynes is renowned for its abundance of green spaces, parks, and lakes. The town is adorned with more than 20 million trees, offering a refreshing environment and ample opportunities for outdoor activities. Whether you enjoy cycling, jogging, or simply unwinding amidst nature, you'll find plenty of picturesque spots to explore. 3. Cultural and Entertainment Hub: Despite being a relatively young town, Milton Keynes offers a vibrant cultural scene. It boasts a range of art galleries, theatres, and live music venues, hosting a diverse array of performances throughout the year. The famous Milton Keynes Theatre is the largest outside of London, attracting renowned productions and world-class performers. Additionally, the town houses the National Bowl, a renowned open-air venue that has hosted some of the biggest music concerts and festivals. 4. Shopping and Dining: Milton Keynes is a shopper's paradise, offering a variety of shopping centres and retail parks, such as Centre:MK and intu Milton Keynes. These destinations house a wide range of high-street brands, independent boutiques, and eateries, catering to all tastes and preferences. Whether you're looking for fashionable clothing, household items, or delicious cuisine, you'll find an abundance of options in Milton Keynes. Cons of Living in Milton Keynes: 1. Lack of Historical Charm: As a new town, Milton Keynes lacks the historical charm found in some other British towns. If you're someone who appreciates centuries-old architecture and a rich heritage, you may find the town's modern aesthetics somewhat impersonal. 2. Limited Job Market: While Milton Keynes is home to several national and international corporations, such as Red Bull Racing and Santander, the job market can be relatively competitive, especially in certain sectors. Depending on your profession or industry, you may find it challenging to secure the job opportunities you desire within the town itself. 3. Traffic Congestion: Although Milton Keynes is known for its excellent infrastructure, it can still experience traffic congestion during peak hours. The town's popularity and rapid growth have resulted in increased traffic volumes, especially on major roads and roundabouts. It's important to consider commuting times and plan accordingly to avoid unnecessary delays. 4. Cost of Living: Like many desirable locations, the cost of living in Milton Keynes can be relatively high compared to surrounding areas. Housing prices can be steep, making it challenging for first-time buyers or individuals on a limited budget to find affordable housing options. Conclusion : In conclusion, Milton Keynes presents a distinctive blend of advantages and disadvantages for those considering it as their place of residence. The town's well-planned infrastructure, abundance of green spaces, and vibrant cultural scene undoubtedly make it an attractive destination. Commuters will appreciate the efficient transportation networks, while nature enthusiasts can indulge in the numerous parks and lakes. Additionally, the town's shopping and dining options cater to a wide range of tastes and preferences. However, it's important to acknowledge the limitations of living in Milton Keynes. The lack of historical charm may be a downside for individuals seeking a more traditional setting. Moreover, the competitive job market and traffic congestion during peak hours can pose challenges for some residents. Additionally, the relatively high cost of living, particularly in terms of housing prices, may be a deterrent for those on a tight budget.  Ultimately, whether Milton Keynes is the right place for you to call home depends on your priorities and preferences. Consider the town's modern appeal, cultural offerings, and convenient amenities alongside the potential drawbacks. With careful consideration, you can make an informed decision that aligns with your lifestyle and aspirations.
By Keval Gudka May 25, 2023
Deciding to sell a property is a significant step that can bring about various emotions and challenges. Whether you're looking to upgrade, downsize, or simply need a change, selling your property requires careful planning and preparation. To help you navigate this complex process, we've outlined the crucial first steps you should take to ensure a successful sale. 1. Evaluate Your Property: Before diving into the selling process, it's essential to evaluate your property objectively. Take a step back and assess its current condition, considering both its strengths and weaknesses. Look for any repairs or renovations that may be necessary to enhance its appeal to potential buyers. This evaluation will give you a clear idea of the property's market value and help you set a realistic asking price. 2. Research the Property Market: Understanding the current state of the property market in your area is vital. Research recent sales, average property prices, and trends specific to your location. This information will provide you with valuable insights into the demand, competition, and pricing dynamics of your local market. You can consult estate agents, online databases, and local property listings to gather relevant data. 3. Find a Reputable Estate Agent: Partnering with a professional estate agent can make a significant difference in the success of your property sale. Seek recommendations, read reviews, and interview multiple agents to find one who specializes in your area and has a proven track record of successful sales. A reliable agent will guide you through the entire selling process, offer valuable advice, help set the right price, market your property effectively, and negotiate on your behalf. 4. Set a Realistic Asking Price: Determining the right price for your property is crucial for attracting potential buyers. Your estate agent will assess the market value of your property based on factors such as its location, size, condition, and recent sales in the area. While it's tempting to aim for a higher price, setting a realistic and competitive asking price will attract more interest and help you sell your property faster. 5. Prepare Your Property for Sale: First impressions matter, especially when it comes to selling property. Take the time to make your home presentable and appealing to potential buyers. Declutter, deep clean, and consider staging your property to showcase its full potential. Address any necessary repairs, touch-ups, or improvements to enhance its overall appearance. Pay particular attention to the curb appeal as it creates the first impression for potential buyers. 6. Gather and Organize Documentation: To streamline the selling process, gather and organize all the necessary documentation related to your property. This includes property deeds, title deeds, mortgage information, warranties, permits, and any other relevant paperwork. Having these documents readily available will help facilitate the transaction and provide transparency to potential buyers. 7. Develop a Marketing Strategy: Effective marketing is essential for attracting potential buyers and maximizing the visibility of your property. Collaborate with your estate agent to create a comprehensive marketing strategy that utilizes online platforms, social media, professional photography, virtual tours, and traditional advertising methods. By reaching a wide audience, you increase the chances of finding the right buyer for your property. Conclusion: Selling a property can be a complex and overwhelming process, but you don't have to navigate it alone. By partnering with a reputable estate agent, you can unlock the full potential of your property sale. An experienced agent will provide valuable insights, expert guidance, and a tailored marketing strategy to attract the right buyers and secure a successful sale. With their knowledge of the local market and extensive network, a professional agent will ensure your property receives the exposure it deserves. From setting a competitive asking price to preparing your property for showings, they will handle the intricacies of the selling process, allowing you to focus on other important aspects of your life. So, if you're ready to embark on this exciting journey of selling your property, reach out to us, your trusted estate agent. Our team of dedicated professionals is committed to delivering exceptional service, personalized attention, and outstanding results. Let us help you make a smooth transition to the next chapter of your life. Contact us today, and together we'll turn your property into a desirable and sought-after listing.
By Keval Gudka May 24, 2023
Introduction: Welcome to Milton Keynes, a vibrant town in Buckinghamshire, England, renowned for its modern architecture, innovative design, and sustainable living. With its strategic location, excellent infrastructure, and abundant employment opportunities, Milton Keynes has become an attractive destination for property investors and homeowners alike. In this blog, we will explore the evolving Milton Keynes property market, highlighting its key features, growth factors, and the opportunities it presents for prospective buyers and investors. 1. Rising Property Prices: Over the past decade, Milton Keynes has witnessed a steady increase in property prices, making it one of the fastest-growing property markets in the UK. The demand for housing, combined with limited supply, has resulted in a surge in property values. However, compared to nearby cities like London, the average property prices in Milton Keynes remain relatively affordable, making it an enticing option for first-time buyers and investors looking for value for their money. 2. Infrastructure and Connectivity: Milton Keynes is renowned for its excellent infrastructure and connectivity, providing residents with easy access to major cities and transportation hubs. The town boasts exceptional road and rail links, with direct train services to London Euston taking just over 30 minutes. Moreover, its close proximity to major airports, such as Luton and Birmingham, further enhances its accessibility and attractiveness to both domestic and international investors. 3. Employment Opportunities: One of the key factors driving the growth of the Milton Keynes property market is the abundance of employment opportunities. The town is home to numerous large corporations, including leading automotive, technology, and logistics companies. The presence of these industries has led to a strong job market and steady population growth, attracting young professionals and families seeking career advancement and a high standard of living. 4. Sustainable Living and Urban Design: Milton Keynes stands out for its unique urban planning and sustainable living initiatives. The town was designed with careful consideration for green spaces, pedestrian-friendly walkways, and an integrated transportation system. With numerous parks, lakes, and nature reserves, Milton Keynes offers residents a balance between urban convenience and natural beauty. This emphasis on sustainable living makes it an appealing choice for those seeking a greener lifestyle and a healthy environment for their families. 5. Development and Regeneration Projects: To accommodate the growing demand for housing, Milton Keynes has seen significant development and regeneration projects in recent years. The introduction of new residential areas, mixed-use developments, and urban renewal schemes has expanded the housing options available to buyers and investors. These initiatives not only provide a range of property types but also contribute to the overall improvement of the town's infrastructure and amenities. 6. Rental Market Potential: For investors looking to enter the buy-to-let market, Milton Keynes offers promising prospects. The high demand for rental properties, driven by a growing population and a thriving job market, presents opportunities for rental income and capital appreciation. Additionally, the presence of the Open University and Cranfield University attracts many students, further fuelling the demand for rental properties in the area. Conclusion: The Milton Keynes property market continues to thrive, fuelled by its exceptional infrastructure, strong employment opportunities, and commitment to sustainable living. Whether you're a first-time buyer, a property investor, or someone seeking a modern and vibrant place to call home, Milton Keynes offers a range of options to suit your needs. With its rising property prices and potential for growth, now is an opportune time to explore the property market in this dynamic and evolving city.
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