Milton Keynes Area

[baskey]

Hi,

I closely watch to buy a house in Milton Keynes. A decent detached 3 bed room cost around 155 to 160 K.

I also feel market may fall in the near future as most of our forum members thinks but need a own home soon as i nearly 36 yrs old now and may loss interest of getting one when i advance further.

Also what are all pros and cons of getting a 3 bed room bungalow which is ca. 130 -140 K against detached houses.

Any one can share their opinion on this price for Milton Keynes.

Regards,

Baskey

[Catch22]

Hi,

I closely watch to buy a house in Milton Keynes. A decent detached  3 bed room cost around 155 to 160 K.

I also feel market may fall in the near future  as most of our forum members thinks but need a own home soon as i nearly 36 yrs old now and may loss interest of getting one when i advance further.

<{POST_SNAPBACK}>

Its a wind up Right?

Edited June 15, 2005 by Catch22

[Bear Bum]

Hi,

I closely watch to buy a house in Milton Keynes. A decent detached  3 bed room cost around 155 to 160 K.

I also feel market may fall in the near future as most of our forum members thinks but need a own home soon as i nearly 36 yrs old now and may loss interest of getting one when i advance further.

Also what are all pros and cons of getting a 3 bed room bungalow which is ca. 130 -140 K against detached houses.

Any one can share their opinion on this price for Milton Keynes.

Regards,

Baskey

<{POST_SNAPBACK}>

[Nomadd]

Hi,

I closely watch to buy a house in Milton Keynes. A decent detached  3 bed room cost around 155 to 160 K.

I also feel market may fall in the near future as most of our forum members thinks but need a own home soon as i nearly 36 yrs old now and may loss interest of getting one when i advance further.

Also what are all pros and cons of getting a 3 bed room bungalow which is ca. 130 -140 K against detached houses.

Any one can share their opinion on this price for Milton Keynes.

Regards,

Baskey

<{POST_SNAPBACK}>

Well, those same properties cost £50-60k just a few short years ago, so they may have some way to drop. Who knows. Just wait and see if you aren't desperate.

My mate lives in MK, and the last time I spoke to him he said prices were falling, but mainly at the top end of the market - big 4-5 detached, seeing £50K+ lopped off them.

If I was you, I'd wait an extra year or two.

Nomadd

[oracle]

MK prices at top end are falling nicely...

still a bit sticky with 2-3 bed places at the moment....primarily because MK has a V.LARGE BTL exposure.However,the local rag is advertising increasing numbers of "chain free" for sale now....albeit at last years prices(circa 140k for 2bd,165k for 3bd)

MK is going to plummet once BTL start trying to sell en masse here!!!!....they're just starting to come out of the woodwork by the look of it!!!!

[okonu]

On bungalows vs two/ three storey places.

I've lived for last 3 years in a detached bungalow (about 3500 sq feet)

Not having stairs is nice. Having bedroom with door/ verandah to garden is nice.

Can't see any drawbacks

[mariothegreat]

Hi,

I closely watch to buy a house in Milton Keynes. A decent detached  3 bed room cost around 155 to 160 K.

I also feel market may fall in the near future as most of our forum members thinks but need a own home soon as i nearly 36 yrs old now and may loss interest of getting one when i advance further.

Also what are all pros and cons of getting a 3 bed room bungalow which is ca. 130 -140 K against detached houses.

Any one can share their opinion on this price for Milton Keynes.

Regards,

Baskey

<{POST_SNAPBACK}>

Hmm I am one of BTL person, I just sold 10 flats with a 15% discount, it's a good deal despite what the people think in fact everything it depends WHEN you bought them and HOW MUCH you paid them for.

I bought them 7 years ago when the rate Price/rent was nearly 15% return per year, today is less than 5%, the price have treble, so the greater problem I have is to pay CGT tax...

I can tell you frankly it's no the right time to buy, the market is still like a dead lake, p.i. I sold two flats two years ago in 1 week, this time I was trying 6 month before to sell at that discount prices.

On my point of view stay out of the market for another year. Nobody knows for sure what is going to happens (I remember when I was buying 7 years ago everyone said it was crazy), Milton keynes is a special city but buying anything when is at the top means risk to make losses.

Mario

[Spoony]

Judging by the prices in the MK property section, they are still to start coming down.

I speak to many people at work who do not believe there will be a crash for various reasons, but the biggest one seems to be that it won't happen in MK - Its unique. Also the new ASDA, IKEA and football stadium is going to bring 1000's of jobs creating more demand for housing here, they say.

I think they may have a bit of a point but I can't see those sort of jobs preventing a house crash. If you look at the amount of empty shops in CMK shopping centre they have never been higher.

I wait and see, but I won't be buying for years I'm sure

[Jonesy]

I speak to many people at work who do not believe there will be a crash for various reasons, but the biggest one seems to be that it won't happen in MK - Its unique. Also the new ASDA, IKEA and football stadium is going to bring 1000's of jobs creating more demand for housing here, they say.

I can't see how MK property prices could remain unaffected if those in neighbouring towns fell significantly as there would be an incentive to move further afield and commute which would be relatively easy given the good road links.

[Spoony]

That is true. Has anyone been tracking the market lately? Any evidence of falls in the average price in Milton Keynes? Still people at work don't believe me that house prices are falling!

[izzy]

That is true. Has anyone been tracking the market lately? Any evidence of falls in the average price in Milton Keynes? Still people at work don't believe me that house prices are falling!

<{POST_SNAPBACK}>

Up until March 2005 I was renting a nice BTL in MK. Kept an eye on the prices then and the average price for a 2 bed semi in Walnut Tree was about £145,000. Don't see much of a slide yet. However, there seem to be a good proportion for sale with 'no chain'. As mentioned before, this is prime BTL land.

I paid £595 a month in rent. Looks like I could get a similar house now for £575. Oversupply?

[Blue Peter]

That is true. Has anyone been tracking the market lately? Any evidence of falls in the average price in Milton Keynes? Still people at work don't believe me that house prices are falling!

<{POST_SNAPBACK}>

I think on one of the August indices (hometrack?), MK was shown as 0.something % down.

You can also see drops in asking prices on certain houses (e.g. one in Wavendon Gate from 375,000 to just under 340,000), and lots of houses not selling,

Peter.

[hawkeye]

[i think you will find that the huge amount of new build activity (and associated promotional deals - not price cuts you understand! ) will drive down second hand values.

Notwithstanding the above, there is probably a two tier thing going on here

Dinkie's in good jobs buying 5 bed super exec homes - not really impacted (although there have been a few redundancies recently)

Under belly of low paid clerical jobs who will be impacted

[Spoony]

In the September Hometrack report, it says that MK is down 1.7% that month, the 3rd biggest fall in any UK city. It states average prices for Terraced - £102K, Semi - £122500, Detached - 203400 and a flat - £72400.

If I look in the property paper, there are a lot of reduced prices in there. But the prices are nowhere near what Hometrack states. £122K does not buy an average Semi in MK. An average semi is more like £140K in the papers and a flat no cheaper than £100k!!

Or maybe that is what the vendors are advertising at.......????

Not sure we can take what Hometrack says as gospel especially as the report also says that a "House price crash can clearly be ruled out".

Does anyone know what MK has fallen year on year according to Hometrack?

Edited October 11, 2005 by Spoony

[FTB1]

In the September Hometrack report, it says that MK is down 1.7% that month, the 3rd biggest fall in any UK city. It states average prices for Terraced - £102K, Semi - £122500, Detached - 203400 and a flat - £72400.

If I look in the property paper, there are a lot of reduced prices in there. But the prices are nowhere near what Hometrack states. £122K does not buy an average Semi in MK. An average semi is more like £140K in the papers and a flat no cheaper than £100k!!

Or maybe that is what the vendors are advertising at.......????

Not sure we can take what Hometrack says as gospel especially as the report also says that a "House price crash can clearly be ruled out".

Does anyone know what MK has fallen year on year according to Hometrack?

Remember that this is postcode driven. I do not know MK, but you will probably find that the average price includes a lot of areas around the outside of town, whilst you are looking in the more expensive areas.

In my area, the Hometrack average price for all flats is less than the advertised price of most studios I have looked at, but is probably in line with 1/2 bed flats in cheaper parts of the same postcode.

[Spoony]

Remember that this is postcode driven. I do not know MK, but you will probably find that the average price includes a lot of areas around the outside of town, whilst you are looking in the more expensive areas.

In my area, the Hometrack average price for all flats is less than the advertised price of most studios I have looked at, but is probably in line with 1/2 bed flats in cheaper parts of the same postcode.

Thats possible, but I am quoting the pdf report that I downloaded. I didn't do a postcode check because you have to register. I didn't want Wiggleworth and co. knowing all my personal detials when registering.

I can't think of any other out of area MK postcodes that are cheap. MK40's are Bedford and thats not cheap either

[Blue Peter]

Thats possible, but I am quoting the pdf report that I downloaded. I didn't do a postcode check because you have to register. I didn't want Wiggleworth and co. knowing all my personal detials when registering.

I can't think of any other out of area MK postcodes that are cheap. MK40's are Bedford and thats not cheap either

In fact, most bits around MK (with the MK postcode) are villages and therefore have the village premium on them,

Peter.

[oracle]

MK prices at top end are falling nicely...

still a bit sticky with 2-3 bed places at the moment....primarily because MK has a V.LARGE BTL exposure.However,the local rag is advertising increasing numbers of "chain free" for sale now....albeit at last years prices(circa 140k for 2bd,165k for 3bd)

MK is going to plummet once BTL start trying to sell en masse here!!!!....they're just starting to come out of the woodwork by the look of it!!!!

well here it is guys!!!!!....just as predicted!

Hometrack today....MK prices DOWN 7%YOY.

[Lawd_Gawd_Help_Mi]

anyone else keeping track around this area?

[It's a Waiting Game]

anyone else keeping track around this area?

I'm following the prices around here and they don't seem to be moving much, either up or down.

On the bright side Rightmove currently has 2663 properties listed for MK, albeit a lot of them duplicates. Land Registry data for Q2, courtesy of the BBC, shows that only 1353 properties sold last quarter (supposedly the busiest of the year?). I think it's fair to say that is a large stock of unsold property and that there is way in excess of three months worth to clear, which could be a sign of impending price drops.

Milton Keynes Q2