Properties More Than Double in Value at Oakgrove Village
It’s been called one of the country’s top investor hotspots, and this year, as Milton Keynes celebrates its 50th birthday, Crest Nicholson’s Oakgrove Village is showing the kind of returns investors could be seeing on their property.
On average, capital growth from the first phase of the development (i.e. value at purchase vs. current selling price) stands at 56.5%.
And that is just the average. There has been a 67% capital growth rate on the two bed apartments at Oakgrove Village, and similar growth on the one bed apartments.
A full break down of the capital growth:
1 bed apartment (Based on first 6 sales on phase 1, and latest 6 on phase 4)
• Phase 1 average price - £125,083
• Phase 4 average price - £205,000
• 63% capital growth increase
2 bed apartment (Based on first 6 sales on phase 1, and latest 6 on phase 4)
• Phase 1 average price - £173,233
• Phase 4 average price - £290,883
• 67% capital growth increase
2 bed house (Based on first 6 sales on phase 1, and latest 6 on phase 4)
• Phase 1 average price - £198,300
• Phase 4 average price - £312,166
• 58% capital growth increase
3 bed house (Based on first 6 sales on phase 1, and latest 6 on phase 4)
• Phase 1 average price - £261,991
• Phase 4 average price - £405,000
• 55% capital growth increase
4 bed house (Based on first 2 sales on phase 1, and latest 2 on phase 4)
• Phase 1 average price - £362,500
• Phase 4 average price - £510,000
• 40% capital growth increase
Why the growth?
It is important to remember that Oakgrove Village is more than the sum of its part. It helps of course that the houses themselves are distinguished by their high quality and specification. But Oakgrove Village has gone from being a plan on a page, to a community replete with a school, village centre, Waitrose, Metro bank, Costa Coffee, dental practice and much more. In short: it is not simply a housing development, but a destination on the map.
Marcus Evans, Sales and Marketing Director at Crest Nicholson, said: “The level of capital growth we’ve seen at Oakgrove Village is truly quite remarkable.
“It’s no secret that Milton Keynes is a great place to live. It’s popular with commuters of course, but when the town turned 50 this year we had reason to take stock and reflect on far how it’s come as a place to proudly call home. No longer is it simply ‘up and coming’; it has well and truly arrived. The capital growth at Oakgrove Village reflects this. We’re really proud of what we’ve achieved here and are happy that if residents do decide to move on from Oakgrove Village, they do so with strong capital growth behind them.”
An impressive 80% of the Oakgrove Village development has now been sold and interest among prospective buyers remains high.