Condominium Market Outlook for London, Ontario in 2020
Are you looking for any residency in London Ontario? There are new 50 home developments out of which 13 are condo developments. These developments are mix under construction and recently completed construction. There are total 98 new listings if talking about only condos, there average price stats from $ 498,081 whereas lowest price is $114,900 and the highest price $1,399,00.
London market analysis:
According to a recent report, the market of condos in London is very active this year and a 12 per cent increase has been seen in the previous year. The reports from 2019 also tell us that there will be 5 per cent more increase in selling, this seems true when we this the market report of January the prices for the residences has been increased. The reason for the increase in price is that buyers form Greater Toronto are more focused to buy more and more homes in these rising cities. The market is still the sellers’ market because of the low inventory and high demand in London as it was in the previous year. The rents will be more and more and difficult to find a good affordable residency on rent.
Types of condos available in London:
You can find modern and luxurious style condos within affordable and high price ranges. the median list price is $589,900 for condos for sale in London. These are mostly designed for the small or single family consisting 1 to 2 bedrooms, 1 to 2 bathrooms and you can find bigger units also according to your needs.
Where to buy the property:
Are you confused where to buy the best property in London? Here we will discuss three places suitable for buying property including condos in London. Greenwich Peninsula (a waterfront suburb with thousands of new homes). Here you will find many opportunities related to your career and basic facilities like station North Greenwich on the Jubilee line, two new schools and series of planned new residential neighborhoods along with-it recreational places like galleries, a basketball pitch and walkways, in short, a place for all age groups. But the place is not for students of higher education. The average price in Greenwich Peninsula is £550,000.
Barking Riverside has London’s biggest development with 10,000 new homes, schools, restaurants, shops and recreational spots and so on. The improvement in transportation is incredibly increasing the house prices and the most important is the natural beauty of the place makes its more special. The one you should know about the place is it’s a new development so no planned neighborhood will be available so you might complain about loneliness. The average price starts from £262,500. Old Kent Road a large investment is going to happen in this area and the place is near to many restaurants and bars. A 48- storey landmark tower and 1,113 new homes, a linear park, a public square and new piazzas will be there soon. The place is best to buy property as it is growing fast. The average price starts from £570,000.