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About Us

ABOUT LONDON HOUSING STARTS

London is growing! In the first six months of 2017 London experienced 1,718 housing starts. The record number of housing starts for any given year was 3,674 back in 2006. Will this number be reached this year? In 2016 London added 3,103 new residential units. More and more people are moving here from the G.T.A. area to take advantage of our attractive real estate prices.

 

ABOUT CURRENT CONDO PRICES

The average price of a condo in London in the first six months of 2017 was $233,973 with 1,257 unit sales. These numbers do not include "in house" new builder sales. This compares to the average "MLS" selling price of condo in London in 2016 of $197,807 with 1,651 unit sales.

The average "MLS" selling price of a condo in St. Thomas in the first six months of 2017 was $268,500. This compares to a sales number of $288,376 in 2016. Why the drop? Well forty percent of the condo sales in St. Thomas were brand new units while in the first half of 2017 no brand new units were reported in these sales results.

 

ABOUT TORONTO, KITCHENER AND HAMILTON BUYERS MOVING TO LONDON

New people are moving in and are targeting in particular the north end as a place to live. Our spring markets saw homes and condos selling out in bidding wars. Out of town buyers coming to London from other areas buy with confidence and often without financing conditions.

London renters dreaming of becoming condo or home owners take note! Do you homework and be prepared to act quickly and decisively when something good becomes available.

 

ABOUT THE TOWNHOUSE MARKETPLACE

A mid 2017 update. Our hot spring market has "sold out" most of the new townhouse complexes now under construction. Very few new townhouse complexes will be coming on-stream for the remainder of the year as builders are simply trying to catch up. Townhouse style units tend to be more vertical in design (more stairs) and they seem to attract a younger set of buyers. Be careful, some builders' models are being priced at astronomical price levels. But then again, out of town buyers see things in a different way. It is a bit of a jungle out there.

 

ABOUT NEW DOWNTOWN CONDO PROJECTS ON THE GO

All eyes are now on the new "Tricar Azure" building going up at 505 Talbot Street. There is nothing else on the go. The "London Free Press" often reports on what is in the pipeline to happen next. It makes for good reading.

 

NEWS ABOUT LANDLORD ISSUES

Two things! Going to 2017 more rental units are to be inspected by the city. Google – City of London – residential rental by-law! Also at issue and frequently in the news is the talk about the legalization of granny suites. More news to follow!

 

ABOUT THE POTENTIAL DOWNSIDE TO THE LONDON ONTARIO REAL ESTATE MARKET

If interest rates go up might real estate prices start to come down? Yes and no! People will always want to live close to our hospitals, universities, parks and shopping outlets.

Some pundits are now saying the craziness of our recent market cannot continue forever.

 

ABOUT FINDING "MLS" RENTALS ON THIS WEBSITE

There is a trick to finding "MLS" rentals on this website but once that you learn what it is, it is easy. Go to the listing tab and where it says minimum and maximum price just type in zero to two. It is that easy!

Between 0 and 2 pulls up everything for lease "MLS" priced at and below the $2,000 per month price range. Another great student rental source of information can be found at offcampus.uwo.ca.

 

ABOUT WORKING WITH PETER DAOUST

Peter wrote the contents of this site and understands many of the intricacies of the London and St. Thomas condo marketplaces.

Peter is a 2014 and 2015 contributor to the "REM" magazine which is read by Real Estate Agents all across Canada.

Peter has over 30 years of real estate selling experience in London and has achieved the "Remax Hall of Fame" award.

Please call me at the office 519-649-6000 or direct 519-852-7653.

Peter Daoust



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