The London exodus: top schools, the best areas and new homes for first-time buyers in Milton Keynes

Why first-time buyers are moving to Milton Keynes, Buckinghamshire.

Average first-time buyer spend: £220,350, which would buy a purpose-built two-bedroom flat or a period two- to three-bedroom terrace house.

Annual price increase: 4.4 per cent. Proportion of homes sold to first-time buyers: five per cent.

The commute: trains from Milton Keynes Central to Euston take from 34 minutes. An annual season ticket costs from £5,080.

Schools: A good choice of primary schools, including the “outstanding” Priory Common School and Loughton Manor First School. Secondary schools St Paul’s Catholic School and Lord Grey Academy both have “good” Ofsted reports.

What's new? Thousands of new homes are being built around the fringes of Milton Keynes.

At Shakespeare Park just over 200 homes are being built on 15 acres four miles south-west of the centre. Prices start at £215,000 for a two-bedroom flat. A five-bedroom house costs from £435,000 (taylorwimpey.co.uk).

Around 750 more homes are being built at Eagle's Rest by Barratt Homes and David Wilson Homes, six miles west of Milton Keynes Central station and extremely handy for the M1.

Prices start at £229,995 for two-bedroom flats. Visit barratthomes.co.uk and dwh.co.uk for more details.

Nearby, the first residents will move into The Square @ Brooklands in the new year. This mixed-use scheme includes shops, cafés and restaurants, a gym, a nursery and a public square, as well as just over 50 houses and apartments. Prices start at £204,000 for a one-bedroom apartment, ranging up to £485,000 for a five-bedroom house (brooklandsmk.co. uk).

The lowdown: traditionally mocked for its concrete cows and endless chain of roundabouts, beyond the jokes there's actually masses going on in Milton Keynes.

There's a theatre, live music venues, a contemporary art gallery and an orchestra, while for sports fans there is the Xscape complex, which has indoor skiing and snowboarding.

There are also several cinemas and shopping centres serving Milton Keynes, while five different farmers' markets are in operation.

And although there are concrete cows there are also 5,000 acres of open space to explore — the equivalent of 14 Hyde Parks.