Jazwell Brown, 49, attacked Joanne Pearson, 38, and Teohna Grant, 24, at an address in Santa Cruz Avenue, Bletchley, on 25 December last year.
Brown also attempted to murder Bradley Latter, 29, as well as a teenage boy during the incident.
He admitted to the offences during a brief hearing at Luton Crown Court on Tuesday.
Brown, of Bletchley, additionally pleaded guilty to having a knife in a public place and causing unnecessary suffering to a protected animal, a Staffordshire bull terrier.
Ms Pearson and Ms Grant died at the scene after emergency crews were alerted at about 6.30pm, while Mr Latter and the boy were taken to hospital with serious injuries.
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