Good news for Milton Keynes homeowners – house prices are still on the rise! But first-time buyers will need deep pockets as prices climb higher than the UK average.

According to the latest Land Registry figures, the average house price in Milton Keynes hit £313,892 in June. That’s a decent 0.8% jump from May!

Milton Keynes Outpaces the UK Average

While house prices across the UK saw a respectable 0.5% increase, Milton Keynes zoomed ahead with a 0.8% rise. And prices in the South East managed a 1% increase.

Over the past year, the average house price in Milton Keynes has shot up by a healthy £6,100. That puts them in 19th place for price growth out of 64 local authorities in the South East.

First-Time Buyers Feeling the Pinch

But the average price tag for a starter home here is now a hefty £254,700. That’s £4,700 more than a year ago and a dizzying £45,300 more than back in June 2019.

Meanwhile, those lucky devils who already own a home are laughing all the way to the bank. They’re shelling out an average of £364,800 – that’s 43.2% more than first-time buyers.

Terraced Houses Leading the Charge

If you’re lucky enough to own a terraced house in Milton Keynes, then congratulations! Terraced houses saw the biggest price jump in June, with a 0.9% increase, bringing the average price to £263,695. Over the past year, terraced house prices have climbed by a solid 1.3%.

Here’s a quick rundown of the average house prices in Milton Keynes:

• Detached: £531,861 (up 0.8% monthly, up 3.3% annually)
• Semi-detached: £320,924 (up 0.9% monthly, up 3.6% annually)
• Flats: £166,318 (up 0.2% monthly, down 1.8% annually)

Still More Affordable Than the South East Average

While Milton Keynes prices are on the rise, they’re still a bit easier on the wallet compared to the rest of the South East. The average house price in the region is a cool £383,000. And for those keeping score, the average UK house price is £288,000.