Growth of house prices in Milton Keynes outpaces UK average by 41%
At current levels, values are increasing by almost £28,000 each year
Milton Keynes has outstripped UK house price growth by 41.8% over the past decade.
That's according to a Milton Keynes and Leighton Buzzard property expert who has analysed local house price growth over the past decade and compared it to the national rate of growth - with startling results.
Over the last ten years, the UK has seen house price growth of 50.4% of which 8% of that has occurred in the last year alone.
By comparison, the Milton Keynes area has benefited from house price growth of 71.5% with 10.8% of that in the last year.
Therefore, Milton Keynes has outstripped UK house price growth by 41.8% this decade.
Based on this trend, property expert Dominic Marcel, the owner of leading Milton Keynes and Leighton Buzzard estate agency Lion Estates, part of Keller Williams UK, now predicts the level that we can expect house prices in the area to rise to by 2025.
He said: “Our area has seen house price growth of 71.5% since 2011 compared to 50.4% across the country as a whole and that’s a huge difference.
"In fact, at current levels, values are increasing by almost £28,000 each year and incredibly that’s almost the same as the average annual wage. In other words, houses are earning almost as much each year in the Milton Keynes area as people are.
"And at an average growth rate per annum of 5.7% locally we can expect property values here to reach £340,752 by 2025 compared to the £286,797 that they currently sit at."
He added: "These are bold numbers indeed but do demonstrate the appeal of our area and are testimony to its attractiveness as a place to live, to work, to set up business in and to bring up a family.
"Milton Keynes beats the rest of the UK on economic growth. This is something to be applauded, surely."