I’m writing today in order to draw your attention to recent movements in market values in Maida Vale and their impact on the value of Morshead Mansions flat in particular.

In recent years, flat sales in London have been erratic. While there was steady growth following the recession of 2007-2008, the last 4 or 5 years have been a lot harder to predict.

There’s no doubt that the pandemic which started at the beginning of 2020 had a significant effect on people’s willingness to move home, with the property market slowing down as a result. This naturally contributed to a dip in expected prices with fewer potential buyers chasing a greater supply.

We’ve seen the effects of this in Morshead Mansions. Prior to 2020, the highest sale price achieved in the street was £1,125,000 in February 2016. However, from 2019 to 2021, the average sale prices were fluctuating around £900,000 to £1,000,000.

So how are things looking in 2024? Bearing in mind that there are currently 127 properties for sale in the W9 area with an average asking price of £981,512 (according to nethouseprices.com), it’s encouraging to see that values in Morshead Mansions are now significantly above this average.

October 2023 saw a Morshead flat sell for £1,145,000, which previously sold in April 2022 for £930,000 (and was then refurbished to a very high standard), representing a gross increase of £215,000 in just 18 months. Most recently, a top floor flat has just sold for £1,200,000.

Of course, it would be easy to say that flats in Morshead Mansions are well above the ‘average’ type of property in the Maida Vale area and therefore would be expected to be priced higher.  But if you compare Morshead values to those of flats in Wymering Mansions, our nearest neighbours, these are currently hovering around the £850,000 mark, which is significantly lower than Morshead Mansions.

Needless to say, the level to which Morshead is maintained and the added bonus of the park vista opposite are significant contributors to this price difference, but it seems fair to observe that Morshead has become a very desirable address and is becoming ever more sought-after.

It’s worth noting that top floor Morshead flats that have purchased and developed into their roof spaces are selling for significantly more than the current Morshead average, with the highest sales figure to date being £1,500,000 and others selling close to this.

All in all, Morshead seems to be punching above its weight!