Here's how Milton Keynes house prices held up during August

​The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 2.7% annual growth​.

The average Milton Keynes house price in August was £266,569, Land Registry figures show​ – a 1.1% increase on July.

Over the month, the picture was ​similar to that across the South East, where prices ​increased 1.6%​, but Milton Keynes outperformed the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Milton Keynes ​​rose by £7,000 – putting the ​area 24th among the South East’s 67 local authorities for annual growth.

​The best annual growth in the region was in West Oxfordshire, where properties increased on average by 7.9%, to £343,000. ​At the other end of the scale, properties in Surrey Heath dropped 3.8% in value, giving an average price of £382,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Milton Keynes in August – they increased 1.3%, to £445,348 on average. Over the last year, prices rose by 3.2%.

Among other types of property:

Semi-detached: up 1.1% monthly; up 3.7% annually; £268,766 average

Flats: up 0.4% monthly; remained level over the year; £149,226 average​

First steps on the property ladder

First-time buyers in Milton Keynes spent an average of £​216,800 on their property – ​£5,000 more than a year ago, ​and ​£33,800 more than in August 2015.

By comparison, former owner-occupiers paid £​309,100 on average in August​ – 42.6% more than first-time buyers.​

How do property prices in Milton Keynes compare?​

Buyers paid 19.7% less than the average price in the South East (£332,000) in August for a property in Milton Keynes. Across the South East, property prices are higher than those across the UK, where the average cost £239,000.

The most expensive properties in the South East were in Elmbridge – £607,000 on average, and 2.3 times as much as in Milton Keynes. Elmbridge properties cost 2.9 times as much as homes in Southampton (£210,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).

Factfile

Average property price in August

Milton Keynes: £266,569

The South East: £332,147

UK: £239,196

Annual growth to August

Milton Keynes: +2.7%

The South East: +2.9%

UK: +2.5%

Best and worst annual growth in the South East

West Oxfordshire: +7.9%

Surrey Heath: -3.8%