The surge in property prices, climbing interest rates, and monthly mortgage repayments means that buying a home has become a far tougher ask than a few years ago.
And homeowners in Milton Keynes are among those feeling the pinch more than some, a new study found.
It examined 58 major cities and large towns across the UK, comparing how average house prices and estimated mortgage repayments have changed between 2020 and 2025.
Milton Keynes ranked 16th overall in the study, showing a significant rise in mortgage costs since 2020 as house prices continue to climb in the new city. The average house price increased from £192,808 in 2020 to £231,103 in 2025, pushing estimated monthly mortgage payments up from £819 to £981. That means buyers are now paying around £163 more per month than they would have five years ago.
Joseph Lane, mortgage expert at Mortgage Lane which carried out the study, said the results show just how dramatically the cost of borrowing has changed in a short space of time.
“Even in areas where house price growth has been fairly steady rather than explosive, higher interest rates mean buyers are paying a lot more each month than they would have in 2020,” he explained.
“Cities with strong jobs markets, good transport links and lifestyle appeal tend to see prices rise faster, which means larger mortgages. When rates increase, those larger loans translate into much bigger monthly jumps.”
Joseph urged buyers to focus on affordability rather than headline prices alone. “It’s not just about what a home costs, but what it costs you every month. Understanding how mortgage rates and local price trends interact is key for anyone thinking about buying in today’s market,” he added.
