There are a variety of property types to choose from when looking for real estate in London. There are 989 houses, 13 townhouses, and 87 condos for sale. For past listings, search our London sold listings and London expired listings The average listing price in London for all home types is $646,431, which is 53% higher than April 2018. The average list price differs significantly when broken down by home type. The average listing price of a house is $669,810, $372,175 for a townhouse, and $349,549 for a condo. There are many popular cities surrounding London, including Norfolk County, Waterloo, Kitchener, Brantford, Cambridge, Sarnia, Guelph that offer a variety of home prices and unique areas to live. London also has many options for renters with 1,078 active rental listings and an average lease price of $2,111.
London is home to 39 unique neighbourhoods. Popular neighbourhoods include Central London, with 119 active real estate listings, Hyde Park, with 79 active real estate listings, and Sunningdale, with 64 active real estate listings.
Residents of the city of London are expected to pay property taxes on all residences that they own. Property taxes can usually be found on each active Zoocasa listing, or can be looked up here. As of 2017, the estimated property tax residents can expect to pay is 1.360%.
There is currently no municipal land transfer tax in effect in London but the provincial land transfer tax still applies to all property purchases. First-time home buyers in Ontario may quality for a provincial land transfer tax rebate of up to $4,000.
See below for provincial land transfer tax rates.
|Ontario Land Transfer Tax Rates|
|$0 - $55,000||0.5%|
|$55,000.01 - $250,000||1.0%|
|$250,000.01 - $400,000||1.5%|
|$400,000.01 - $2,000,000||2.0%|
London Land Transfer Example:
Purchase price = $300,000
|Purchase Price||Subtract Tax Brackets||Rate||Non 1st Time Buyer Tax Payable||1st Time Buyer Tax Payable|
|$0 - $55,000||$55,000||0.5%||$275||$0|
|$55,000 - $250,000||$195,000||1.0%||$1,950||$0|
|$250,000 - $400,000||$150,000||1.5%||$2,250||$475|
|$400,000 - $600,000||$200,000||2.0%||$4,000||$4,000|
|Non 1st Time Buyer||1st Time Buyer|
Located in the southwest corner of Ontario along the Quebec City-Windsor Corridor, London is the province’s regional centre for health care and education. London has grown into Canada’s 11th largest metropolitan area, having annexed many smaller surrounding cities. Home to Western University, a large portion of the city’s population is made up of university students.
London hosts a number of musical and artistic festivals and exhibits that help drive its tourism industry, but most of its economic activity is centred around education, medical research and information systems.
The 2016 census reports 494,069 residents call London home, up 4.1% from 2011 levels. This is slightly lower than the average population growth of 4.6% in Ontario as a whole over the same time period.
The breakdown of the population in terms of ethnic background are as follows:
The Thames Valley District School Board governs 154 elementary schools and 30 secondary schools across the city with 74,802 students.
|Elementary School Name||Fraser Rating (out of 10.0)|
|Secondary School Name||Fraser Rating (out of 10.0)|
|A B Lucas||7.1|
There are both large and small shopping malls and plazas in London, including the White Oaks Mall, CF Masonville Place, Westmount Shopping Centre, Citi Plaza, Cherryhill Village Mall, Oakridge Centre, and London Mall. Like most cities, Cadillac Fairview’s Masonville is a popular shopping destination for the residents in London.
There are currently no professional sports teams that call London home. Most residents in the city visit Toronto to watch professional sports.
There are currently no regulations in place for short-term rental platforms like Airbnb in the city of London.
London Transit Commission (LTC) is the main transit system and services the entire city with a fleet of buses. There are currently no plans for any rapid transit systems to be implemented in the city.
A majority of major bus routes run from 6:00 a.m. until 12:30 a.m., Monday to Saturday, and 8:30 a.m. to 11:30 p.m. on Sunday. A one-way fare on the London Transit system is $2.75 for adults and free for children under 12. A monthly pass can be purchased for $81 per month for adults and $70 per month for post-secondary students. LTC also offers a weekday pass for travel between Monday to Friday for $69 per month.
London is serviced by London International Airport and is one of the four international airports in Ontario. It is the 20th busiest airport in Canada in terms of aircraft movement. In 2016, more than 514,000 passengers pass through this airport with daily service from airlines including Air Canada, Air Transat, Sunwing and WestJet. Destinations include Ottawa, Toronto, Cancún, Punta Cana, Cayo Coco, Montego Bay, Varadero, Calgary, Orlando, and Winnipeg.
The biggest taxi company that operates in London is Yellow London Taxi. Because taxis are difficult to hail on the go, it is best to book in advance or visit a train station or hotel where they are usually parked waiting for passengers.
An alternative to taking a taxi in London is Uber. Currently, the only Uber service available is the low-cost UberX. The platform has quickly become the most popular ride hailing service across Canada for its convenience.
There are currently four hospitals in the city of London. These include London Health Sciences Centre, Victoria Hospital, University Hospital, and St. Joseph’s Health Care London. All four hospitals are located across the city and are easily accessible by all residents.