Milton Keynes Beats Brexit, Property Market Grows By 2% in 2016

21. May 2017 13:01 / VInsights Team / South East England / Comments (0)

Story Highlights

  • Milton Keynes had total Property Sales of £1.48 billion in 2016
  • The total number of properties sold in year 2016 was 4,873
  • The Average property price was £304 K in Milton Keynes, while Median was £245 K
  • The sales value contributed by New Property was 13.46% where as Not New Property 86.54% 
  • Stamp duty changes caused monthly spike in March
  • Brexit coupled with Stamp Duty changes did not cause decline and there was growth of 2% 

 

 Milton Keynes has unitary authority status in South East England.

Total Sales By Property Type

Milton Keynes - Total Sales By Property Type

Milton Keynes had total property sales of £1.48 billion which was 2.39% of the total South East property Market in 2016. 

 The split of £1.48 billion in Milton Keynes across the different property types are:

  • Detached £540 millions (36.49%)
  • Terraced £318 millions (21.51%)
  • Semi-Detached £298 millions (20.14%)
  • Other £174 millions (11.75%)
  • Flat/Maisonette £150 millions (10.11%)

Year on Year Comparison : Compared to Milton Keynes Property Market 2015 in 2016

  • All the property types sales have shown growth except Detached, Terraced

 

Milton Keynes Property Market at Postcode Level

Postcode Coverage Area School Local Authority Area
MK1 Denbigh, Mount Farm Details Milton Keynes
MK2 Brickfields, CentralBletchley,Fenny Stratford,Wate r Eaton Details Milton Keynes
MK3 Church Green, Far Bletchley, Old Bletchley,Newton Leys,West Bletchley Details Milton Keynes,Aylesbury Vale
MK4 Emerson Valley, Furzton, Kingsmead, Oxley Park,She nley Brook End, Snelshall West,Tattenhoe, Tattenho e Park, Westcroft, Whaddon, Woodhill Details Milton Keynes,Aylesbury Vale
MK5 Crownhill,Elfield Park, Grange Farm, Oakhill, Know lhill,Loughton, Medbourne,Shenley Brook End,Shenle y Church End, Shenley Lodge, Shenley Wood Details Milton Keynes
MK6 Ashland, Beanhill, Bleak Hall, Coffee Hall, Eagles tone, Fishermead, Leadenhall, Netherfield, Oldbroo k, Peartree Bridge, Redmoor, Springfield, Tinkers Bridge,Woughton on the Green, Woughton Park,Simpso n, Winterhill Details Milton Keynes
MK7 Browns Wood,Caldecotte, Kents Hill, Tilbrook,Walto n,Walton Hall,Wavendon,Wavendon Gate,Old Farm Park Details Milton Keynes
MK8 Crownhill, Grange Farm, Great Holm, Hazeley,Lought on, Loughton Lodge,Two Mile Ash, Wymbush Details Milton Keynes
MK9 Central Milton Keynes,Campbell Park Details Milton Keynes
MK10 Brinklow,Broughton, Kingston,Middleton, Monkston, Oakgrove Details Milton Keynes
MK11 Fullers Slade, Galley Hill, Kiln Farm,Stony Stratf ord Details Milton Keynes
MK12 Greenleys, Hodge Lea, Old Wolverton, Stacey Bushes ,Wolverton, Wolverton Mill Details Milton Keynes
MK13 Bancroft/Bancroft Park, Bluebridge,BradwellandBrad well Abbey, Bradwell Common,New Bradwell, Heelands , Stonebridge Details Milton Keynes
MK14 Blakelands, Conniburrow, Downs Barn, Giffard Park, Great Linford, Linford Wood,Oakridge Park,Stantonb ury, Neath Hill, Redhouse Park Details Milton Keynes
MK15 Bolbeck Park, Downhead Park, Fox Milne, Newlands,P ennyland, Pineham, Northfield,Tongwell, Willen Par k,Willen, Willen Lake,Great Woolstone, Little Wool stone Details Milton Keynes
MK16 Astwood,Broughton,Chicheley,Filgrave,Gayhurst,Hard mead,Lathbury, Little Crawley,Moulsoe,North Crawle y,Newport Pagnell,Sherington,Stoke Goldington,Tyri ngham Details Milton Keynes
MK17 Aspley Guise,Battlesden,Bow Brickhill,Drayton Pars low,Eversholt,Great Brickhill,Great Horwood,Hulcot e,Little Brickhill,Little Horwood,Milton Bryan,Mur sley,Nash,Newton Longville,Potsgrove,Salford,Stoke Hammond,Swanbourne,Thornton,Tingrith,Wavendon,Wha ddon,Woburn,Woburn Sands Details Aylesbury Vale,Central Bedfordshire, Milton Keynes
MK19 Beachampton,Calverton,CastlethorpeCosgrove,Deansha nger,Hanslope,Haversham,Little Linford,Long Street ,Old Stratford,Passenham,Upper Weald,Wicken Details Aylesbury Vale, Milton Keynes,South Northamptonshire
MK46 Clifton Reynes,Cold Brayfield,Emberton,Lavendon,Ol ney,Ravenstone,Warrington,Weston Underwood Details Milton Keynes

 

Month-wise Break-up of Total Sales

Milton Keynes - Month-wise Break-up of Total Sales

Some of the insights based on the £1.48 billion month-wise break-down :

Stamp Duty Hike Impact

  1. March had property sale spike of £221 millions compared to £118 millions in Feb
  2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

  1. Brexit took place on 23rd June 2016.
  2. Year on Year growth (compared to 2015) has been 2% in 2016
  3. Brexit coupled with Stamp Duty Hike have not had negative impact on Milton Keynes Property Market in 2016

 

 

Total No Of Properties Sold By Property Type

Milton Keynes - Total No Of Properties Sold By Property Type

 Milton Keynes had total property sales of 4,873.  The split across different property types are:

  • Terraced 1,423 (29.2%)
  • Detached 1,277 (26.21%)
  • Semi-Detached 1,126 (23.11%)
  • Flat/Maisonette 945 (19.39%)
  • Other 102 (2.09%)

Year on Year Comparison :  Compared to Milton Keynes Property Market 2015 in 2016

  • Total number of property sales in 2016 has decreased by 3.8%.
  • All property types have shown growth in number of properties sold except property type Detached, Terraced.
  • Other has shown growth of 27.5%

 

 

Average & Median Sales Price

Milton Keynes - Average & Median Sales Price

 The average sales price in Milton Keynes was £304 K and for the different property types it was:

  • Detached £423 K
  • Semi-Detached £265 K
  • Terraced £224 K
  • Flat/Maisonette £158 K
  • Other it is £1.7 million

Similarly median sales price in Milton Keynes was £245 K and for the different property types it was:

  • Detached £395 K
  • Semi-Detached £260 K
  • Terraced £218 K
  • Flat/Maisonette £162 K
  • Other it is £273 K

Year on Year Comparison : Compared to Milton Keynes Property Market 2015 in 2016

  • The average and median property prices have gone up except for Other property type.
  • Other had massive decline in average and median property price

 

 

New Vs Not New Property Statistics

Milton Keynes - New Vs Not New Property Statistics

  By Sales Value the split is as follows:

  • New Property contributed £199 millions (13.47%)
  • Not New Property contributed £1.28 billions (86.53%)

By Total Number the split is as follows:

  • New properties sold were 611 (12.54%)
  • Not new property sold were 4,262 (87.46%)

Year on Year Comparison : Compared to Milton Keynes Property Market 2015 in 2016

  • New property market share in property market has gone down

 

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