London as a city in Ontario is a center of healthcare and education facilities, London is home of universities, colleges and also host for musical industry. This city organized many festivals time to time which is a source of increase in tourism industry of Canada. Economy of London Ontario is mainly based on research about medical fields, educational innovation, and insurance and information technology advancement. London has many park for people who are living in it, it provide refreshing places to people which they actual need in this time stress and competition era. London’s Victoria Park is attraction for visitors because it’s a center of community’s events, on million visitors visit this park every year. This city has a lot of garden and greenery; this provides job and business opportunities to individuals and also provides each kind of education which one individual want to gain for maintaining of his/her life. London city of Ontario with its all facilities is a perfect city of Canada for raise of a family. House prices /Average prices of home in London Ontario London, Ontario is next tornado of Canada which has almost each necessity of life that any person can expect for a happy life. In normal case means case of balance in supply and demand side average price of houses for sale in London is $385K, if an individual want to buy a home in some decent area than he /she has to $300k at least and $385K- $400K maximum. In case of high demand and short supply average price of house is $400k, in first two months of year 2019 real estate market of London Ontario’s hotness on sizzling, for the first time of real estate market history of London average house prices touch the figure $400k. Average prices of houses in first 2 month of 2019 are increased by 10.8% than 2018. In case of house shortage single family home is available with average price $300k, in moth of may 2019 average price of a house reached $405,186 in London Ontario. In 2009 average values of houses was round about $209k which doubled in just 10 years short time period. Some individuals are waiting for some crash in real estate market of London Ontario which is almost not possible, prices will more rises in future and the best time to buy home was some previous years. Average sale price is $405,186 is 13.5% higher than price of a average home in 2018 April.
Average sale price in February 2019 is $ 393,911 which 12.5% higher than February 2018 average sale price, two story houses are more expensive than single story houses, selling average of a two story house is $543,114 in may 2019 which is 12,7% higher than may 2018. In the history of real estate Canada for the first time buyers are dividing market now, according to rule of demand and supply, because supply is less than demand of houses in London Ontario than definitely prices of houses will be rise. London Ontario is having low mortgage rate from previous two years. In 2019 mortgage rate reached to 5.8%, it’s a clear concept that with low interest rate there will be low unemployment higher economic growth and buyer will buy new homes. Ages of home buyer in Canada mostly in between 25 to 34 who buy their personal home in first time their lives, and 2nd group of home buyers consists on age of 65-older than 65 people who buy property as saving of their future generations and 3rd group is consists on age of 55 to 64 who buy their home after their retirement. It is an estimate that now only two major city of Canada with name Windsor and Edmonton have low average prices and Toronto has highest average price of a house such as $780k. An association reported that 603 houses was sold in month of April 2019 and total 1128 houses change hands in overall six months of 2019.