Milton Keynes is a large town in Buckinghamshire, England. It is about 50 miles (80 km) north-west of London. Milton Keynes is the largest town in the ceremonial county of Buckinghamshire.
The River Great Ouse forms its northern boundary; a tributary, the River Ouzel, meanders through its linear parks and balancing lakes. Approximately 25% of the town’s area is parkland or open space which gives Milton Keynes an unusually high proportion of green space when compared with other towns and cities.
Milton Keynes’ property market offers good potential for investment with strong rental demand and prices that are still relatively affordable when compared to London and the South East.
The town has good transport links being served by both the M1 motorway and the West Coast Main Line, making it a popular choice for commuters.
There is a growing population and economy which is attracting more businesses to the area, providing more employment opportunities.
The town has a good selection of schools, both state and independent, and a variety of leisure and shopping facilities.
Milton Keynes is an attractive place to live and work and is continuing to grow in popularity. This makes it an excellent choice for property investment.
If you are thinking of investing in the Milton Keynes property market, this comprehensive guide will give you all the information you need to make a successful investment.
Milton Keynes is home to two universities, the Open University and Buckinghamshire New University. These provide a steady stream of potential tenants for buy-to-let investors.
The Open University is the world’s leading distance learning institution with over 170,000 students worldwide. The university has its headquarters in Milton Keynes and also has a campus in the town.
Buckinghamshire New University is based in High Wycombe but also has a campus in Milton Keynes. The university offers a wide range of courses and has over 6,000 students.
Milton Keynes is well-connected by both road and rail. The M1 motorway runs through the town and there are regular train services to London Euston, Birmingham New Street and Manchester Piccadilly.
The nearest airport to Milton Keynes is London Luton Airport, less than 20 miles away.
Milton Keynes is a great choice for property investment due to its excellent transport links.
Milton Keynes has seen a lot of urban expansion in recent years, with a number of new developments springing up around the town. These include:
Bletchley Park: Bletchley Park is a museum and heritage site in Milton Keynes, dedicated to the history of British code-breaking and computing. The site was the secret headquarters of the Government Code and Cypher School during World War II, where some of the world’s first computers were used to break German codes.
The National Museum of Computing: The National Museum of Computing is based at Bletchley Park and tells the story of British computing from its early beginnings in the 1930s through to the present day. The museum is home to a number of iconic computers including the world’s first commercial computer, the Ferranti Mark 1, and Britain’s earliest surviving digital computer, the WITCH.
The Centre MK: The Centre MK is a large indoor shopping centre in Milton Keynes with over 200 shops, restaurants and cafes. The centre is particularly popular with families due to its huge indoor soft play area and children’s rides.
Willen Lake: Willen Lake is a man-made lake in Milton Keynes that offers a variety of activities including sailing, windsurfing, canoeing and fishing. The lake is also home to Willen Hospice, a charity that provides specialist palliative care for local people with life-limiting illnesses.
Campbell Park: Campbell Park is a large park in central Milton Keynes that was designed to be the “green heart” of the town. The park is home to a number of amenities including a children’s play area, a skate park, a golf course and an outdoor gym.
Milton Keynes Museum: Milton Keynes Museum is a local history museum that tells the story of how Milton Keynes was created from scratch in the 1960s. The museum is based in an old farmhouse and includes a variety of interactive exhibits and displays.
Gulliver’s Land: Gulliver’s Land is a family-friendly theme park in Milton Keynes with over 50 rides and attractions. The park is particularly popular with younger children and includes a number of Thomas the Tank Engine-themed rides and attractions.
The National Bowl: The National Bowl is an outdoor concert venue in Milton Keynes that can accommodate up to 65,000 people. The venue has hosted a number of high-profile concerts over the years, including performances by Oasis, Robbie Williams and Muse.
Xscape Milton Keynes: Xscape Milton Keynes is an indoor ski centre and leisure complex that offers a variety of activities including skiing, snowboarding, climbing and ten-pin bowling. The complex also includes a number of restaurants and cafes.
Woburn Safari Park: Woburn Safari Park is a popular tourist attraction in Milton Keynes that allows visitors to drive through enclosures containing a variety of animals from all over the world. The park also has a number of walk-through areas where visitors can get up close to the animals.
Bletchley Park: 250,000 visitors per year
The National Museum of Computing: 140,000 visitors per year
The Centre MK: 24 million visitors per year
Willen Lake: 1 million visitors per year
Campbell Park: 2 million visitors per year
Milton Keynes Museum: 80,000 visitors per year
Gulliver’s Land: 400,000 million visitors
The National Bowl
Xscape Milton Keynes: 1 million visitors per year
Woburn Safari Park: 500,000 visitors per year
Corporate Travel: Milton Keynes is a popular destination for corporate events and conferences due to its proximity to London and its good transport links.
Shopping: Milton Keynes is home to a number of large shopping centres, including The Centre MK and Xscape Milton Keynes.
Sports: Milton Keynes is home to a number of football, rugby and cricket clubs, as well as the National Bowl concert venue.
Education: Milton Keynes is home to a number of universities and colleges, including the Open University.
Culture: Milton Keynes has a number of museums and art galleries, as well as the National Museum of Computing and Bletchley Park.
Population: 251,000 (2016)
Ethnicity: White British – 79.8%, Other White – 5.6%, South Asian – 6.8%, Black – 3.3%, Mixed Race – 0.6%, Other Ethnic Group – 7.3% (2011 Census)
Age: Median age – 37.4 years (2011 Census)
Religion: Christian – 52.8%, No Religion – 37.9%, Muslim – 4.8%, Hindu – 2.8%, Buddhist – 0.5%, Jewish – 0.3%, Sikh – 0.2% (2011 Census)
Employment: 70.9% of residents aged 16-74 are in employment (2017)
Education: 38.9% of residents aged 16-74 have a degree or equivalent (2011 Census)
GDP: £7.3 billion (2017)
Major Industries: Retail, Information Technology, Manufacturing, Financial Services
Unemployment: 3.4% (2018)
Average Salary: £31,000 (2017)
Tourism: Milton Keynes is home to a number of tourist attractions, including Xscape Milton Keynes, the Centre MK, Campbell Park and Milton Keynes Central train station. In 2017, the city welcomed 3.8 million visitors (Visit Britain)
Housing: The average house price in Milton Keynes is £324,000 (Rightmove), out of which the majority are semi-detached at an average price of £306,000, terraced at £273,000, and detached at £518,000.
Cost of living: The cost of living in Milton Keynes is 5.3% higher than the national average (Numbeo).
Education: There are a number of high-performing schools in Milton Keynes, including Denbigh School, which was rated ‘Outstanding’ by Ofsted in 2017.
Healthcare: Milton Keynes is served by Milton Keynes University Hospital, which received an ‘Good’ rating from the Care Quality Commission in 2018.
Transport: Milton Keynes has an extensive public transport network, including a bus rapid transit system (MK:U), a coachway and a railway station.
Crime Rate: The crime rate in Milton Keynes is lower than the national average, with 79.3 crimes per 1,000 residents in 2017/18 (Police UK).
Airbnb regulations: Milton Keynes Council has not introduced any specific regulations for short-term rentals (Airbnb).
Potential demand: There is potential demand for short-term rentals in Milton Keynes, as the city is home to a number of tourist attractions, including Xscape Milton Keynes, the Centre MK and Campbell Park.
The following is a list of the popular areas in Milton Keynes for Airbnb properties:
Do your research: As with any investment, it’s important to do your research and seek professional advice before making a decision.
Consider the location: Milton Keynes is a large city with a number of different neighbourhoods, so it’s important to consider which area would be best suited to your investment strategy.
Look for growth potential: Milton Keynes has been identified as one of the UK’s top 10 property investment hotspots (Knight Frank), so it’s worth considering properties in the city that have potential for capital growth.
Consider the rental market: With a strong economy and a growing population, there is high demand for rental properties in Milton Keynes. It’s worth considering investing in a buy-to-let property in the city.
Think about the future: With a number of major infrastructure projects planned for Milton Keynes, including the expansion of MK:U and the introduction of HS2, now is a good time to invest in the city.
If you’re thinking about investing in the Milton Keynes property market, our team of experts at Airhorse would be happy to help. We have a wide range of properties available to suit all budgets and investment strategies, so please get in touch to find out more.