Near double-digit gain in third quarter for London real estate
real estate, home, sale, house, generic
Published Thursday, October 10, 2019 11:54AM EDT
Prices of London homes continue to rise, increasing 9.9% to $420,494 in the third quarter of 2019.
According to a survey released from Royal LePage this morning, a two-storey home increased 10.4%, while bungalows rose 10.5%.
“The London housing market is going through a period of adjustment. While inventory is still historically low, a modest increase in listings has resulted in prices increasing at a slower rate,” said Peter Meyer, owner and broker of record, Royal LePage Triland Realty. “It is a seller’s market but we are edging towards a balanced market.”
There seems to be anticipation for the approval of a new casion in the region.
The average price of a home in Canada continues to post steady year-over-year gains in 2019.
The median price of a home in Canada increased 1.4% to $630, 335 in the third quarter of 2019.
Prices of a home in Canada are expected to rise 1.5% to $632, 226 - a 0.3% increase.