Milton Keynes occupies something of a unique position in the UK, as one of the only 'planned towns' in existence. Built on the American style block system, it was only established in 1967. Equidistant from London, Leicester, Cambridge & Oxford, it's an ideal commuter town, as well as a business centre in its own right. One of the great things about Milton Keynes is its use of grid squares. The town is divided into a large number of separate neighborhoods, centered around their own retail hubs. This creates both a convenient living environment, and encourages a sense of community. Roads are designed for large numbers of users, and so traffic is rarely a problem.
Kents Hill, Crownhill and Walnut Tree all offer reasonably priced houses in a nice area. Middleton and Monkston are a little nicer, but this is reflected in price. Coffee Hall, Tinkers Bridge and Fishermead are all cheaper, but a little more run down and not as nice to live in.
Several nearby villages offer older, more characterful homes, but in Milton Keynes itself there's a wealth of homes built within the last fifty years.