City features in new survey’s top 20 costliest places for new homes.
Milton Keynes has been named as one of the most expensive places in Britain to buy a first time home.
The city ranks 17th in a new survey by property buying experts Mortgage Lane, who set out to identify the UK areas where first-time buyers face the highest average purchase prices.
The study analysed 70 major cities and large urban areas across the UK, focusing on the price paid by first-time buyers rather than overall property averages, which can be affected by luxury homes and long-term ownership.
Milton Keynes ranks 17th on the list of the most expensive UK areas for first-timers, with an average purchase price of £262,969. While it sits below the South East’s priciest hotspots, the figure still represents a considerable upfront cost for new buyers, particularly those entering the market for the first time.
“House prices have remained high despite changes in interest rates, and for many buyers, saving for a deposit is now the biggest hurdle,” said mortgage expert Joseph Lane. “In areas like London and the South East, prices have simply run ahead of wages for years.
“Places with strong job markets, good transport links, and desirable lifestyles naturally attract more demand. When supply doesn’t keep up, prices rise quickly, and first-time buyers are often the ones who feel that pressure most.”
Neighbouring Northampton places 28th in the study, with an average price of £224,892.
