New Condos London
Why Should You Invest In London Real Estate?
Ontario continues to experience rapid growth with new housing and jobs emerging across the province, and the City of London is no exception. Located along the stunning Thames River in Southern Ontario, London is a hot spot for career and education opportunities, drawing in young people from across Ontario. This city continues to grow and expand, steadily annexing nearby communities and towns, quickly becoming one the largest cities in the province.
This thriving city is well known as the home of the University of Western Ontario, one of Canada's top ten universities. Usually called Western University, it ranks in the top 1% of universities in the world and acts as one of the largest research-intensive universities in the country. With over 30,000 students, Western creates a great demand for homes in London. Not only are currently students looking for condos to rent, new grads are also looking to settle down somewhere familiar.
Fanshawe College, offering more than 200 post-secondary programs to more than 20,000 students, also creates interest in London real estate. With so many students in need of London housing, investing in nearby condos is guaranteed to bring significant returns on your investments. Moreover, this large student population creates a vibrant culture in London.
London's diversified economy provides London with a booming present and a promising future. This mid-sized city has a variety of flourishing sectors, including agri-food, manufacturing, digital media, tech, healthcare, social assistance, and professional services. What's more, these vital industry sectors produce additional job opportunities by way of retail industries, supply chains, services, and much more. With professionals lining up for homes, London's housing market is a surefire investment opportunity. Here, possibilities are endless. You can work at a tech startup, an established food business, or complete medical research; it's up to you.
London is conveniently located a reasonably short driving distance from major cities, including Toronto, Detroit and Buffalo. Thanks to its top-notch public transit and arterial highways, this city provides residents with affordable housing well connected to the rest of the GTA.
This city is relatively inexpensive, especially in comparison to nearby Toronto. Prices here are even better than those in Hamilton and Kitchener-Waterloo. Such prices make London an excellent opportunity for those starting to build their funds and create a portfolio and those with a little extra on the side looking to diversify their portfolio.
A winning combination of economic growth and affordability makes London real estate a prime investment opportunity for discerning investors who know what to look for.
Average Price for All Home Types in the City of London
The average resale price for all home types, including condos, in the City of London, Ontario for 2021 is around $589,800 - up 17.6% compared to the previous year.
The average rental rate for London, Ontario is presently $1,200. This is in addition to a rental appreciation rate of 3.5% for the past 10 years. The demand for housing is still strong here as the vacancy rate currently sits at 3.4%.
The City of London
Also known as The Forest City, London is home to almost 400,000 people, a number that is rising as more and more people flock to the city. It is located just north of Lake Erie and the U.S. border.
London is considered a young city, with its average citizen roughly two years younger than Canada's average citizen. That's no surprise when you look at the employment opportunity, universities, and vibrant city life London offers.
Here, investors can cater to students and young families alike as a result of the city's unique culture. London features all the amenities that you would expect from a metropolis. Here, locals can visit one of fourteen local museums or take a walk along the Thames River. Parents take their kids to a variety of charming parks. London has nine major parks, not to mention a plethora of smaller, local parks. Some delightful parks include Gibbons Park, Victoria Park, and Springbank Park. London also offers off-leash dog parks and skateboard parks. Who wouldn't want to raise their family here?
You can shop at Argyle Mall, White Oaks Mall, Westmount Mall, or Masonville Place. You can also attend various festivals hosted here, including SunFest, an impressive world music festival that is one of the most popular festivals of its kind in Canada. If you want something a little more sophisticated, visit the beautiful Grand Theatre.
Dundas Place is labelled London's most exciting street. This is the place to be for great shopping, delicious dining, and fine art. From Wellington to Ridout Streets, the streets are filled with patios, street performers, and sidewalk sales.
Thames Valley Parkway, located in picturesque parks surrounding the Thames River, acts as London's main multi-use recreational trail. With a total length of 43 kilometres, Thames Valley Parkway provides scenic views of the Thames and connects to over 150 kilometres of nearby trails that reach all corners of London.
Another reason to love London is its seventeen community gardens in various municipal green spaces across the city. These gardens support their communities by providing healthy, organic food, exercise, and community bonding.
Three major hospitals are located in London: Victoria Hospital, University Hospital and St. Joseph's Hospital.
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Accessibility / Getting Around
Although London is considered mid-sized when it comes to its population, it is very spacious in territory. Therefore, Londoners have access to top-tier transportation options. London sits between highways 401 and 402, providing it with fast connections to Toronto, Windsor, and Sarnia. Professionals based in London do not have to worry about a long commute.
The city continues to strive for excellence by building new roads and replacing old infrastructure surrounding its downtown core. They are thinking ahead by creating better connections for pedestrians, cyclists, and drivers so that London roads can support the city's continued growth and so that London will continue to be loved by its residents for years to come.
London Transit provides a whopping 93 bus routes so locals can quickly zip around the city. Additionally, a Greyhound Bus stop in London's core offers daily travel across Ontario and beyond.
Downtown London also features a Via Rail station. This station allows Londoners to travel throughout Canada on Via Rail's daily trips as part of Canada's national passenger rail service. To top it off, this city is home to the London International Airport. This convenient airport offers flights across Canada, the U.S., and various other countries. Air Canada Express, WestJet and WestJet Encore all service this airport year-round.
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Questions & Answers
Why Do Young People Like London?
London provides the perfect place to live, work and play. Home to Western University and Fanshawe College, this place is a student's dream. Young professionals also find this city very appealing due to the work opportunities in diverse sectors. The urban amenities in London are also to die for. But it's not just young people obsessed with London; who wouldn't want to live here?
What Are Some Fun Things To Do in London?
London offers a variety of trendy restaurants, cafes and bars that you will never get bored of. Indulge your inner shopaholic by going to one of London's many malls, or dip your toes in culture at the Grand Theatre or Museum London. Here, you can also enjoy some skating, golf, or swimming in one of the community pools.
Should I Invest in London Real Estate?
The City of London has been continuing an upward trend for years, showing no signs of stopping. Popular among students and professionals, it's not hard to find a good tenant. Now is the best time to invest in London, before prices skyrocket to the level of other real estate markets in the GTA.