Northwood MK has always known that the Milton Keynes and surrounding areas represent a sound investment opportunity. It seems Milton Keynes Council has also known this for a while. This draft report on Strategic Housing Market Assessment which was drafted in April 2014, describes the property market in MK thus:
“One of the most significant housing changes in the past decade, both in Milton Keynes and nationally, has been the rise in the private rented sector and the decline in owner occupation. In Milton Keynes, this trend towards a larger private rented sector is faster than in either the South East or England.
The trend seems likely to continue further due to a combination of declining affordability, a requirement for more equity from purchasers in order to buy, changes to how home purchase is financed and a relatively low new housing supply. Future generations may aspire to home ownership, but, for many, it will remain that.”
“The relative immaturity of the Private Rented Sector offers the Council an opportunity to continue to shape the sector by working with investors and developers to increase supply, and with landlords to improve the quality and management of existing stock. Overall, the change noted here indicates a fundamental shift in the shape of the Milton Keynes housing market to which the Council should respond.”