Where to buy London real estate in 2019 - MoneySense

Where to buy real estate in 2019: London, Ont.

The top-ranked Summerside neighbourhood offers newly built subdivisions full of modern features—a boon for families.

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Up until 2009, London, Ont., was a thriving manufacturing city. Then the U.S. housing crash and the global economic crisis hit, abruptly decimating the success of manufacturing cities across North America—and London was not spared. There was an upside, however: Residents and city officials were forced to rethink the economic drivers that fuelled the city’s growth and, a decade later, London has rebuilt itself as a tech hub, with a special focus on digital—a sector that was developed from local start-up ventures and now includes more than 300 companies that employ more than 9,000 people.  

Not only is London full of long-term, stable employment in the education and health services sectors, but the cost of living is quite low when compared with other Southern Ontario cities. 

According to the London St. Thomas Association of Realtors (LSTAR), sales activity was up in April 2019 by 7.7% year-over-year, while the average home sales price across LSTAR reached a record high of $421,375—an increase of 14.8% over April 2018. Still, London home prices are extraordinarily reasonable compared with Toronto, where the average sale price is $759,444 (for both jurisdictions this average sale price factors in all property types, not only single-family detached homes).


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So, Greater London is experiencing a flurry of activity, and this can be hard on first-time buyers who are trying to get a foothold into the market. To help, we considered the current value of each Greater London neighbourhood, along with the possibility of future appreciation. 

Click Tap column headings to re-rank neighbourhoods. Click Tap on any neighbourhood name to learn more about it.

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Rank Neighbourhood Average home price (2017) Value Momentum Average price vs. area Avg. price vs. metro district Avg. price vs. outer region 1-year price change 5-year price change Final Star Rating
1 Summerside (South U) $413,898 72.73% 90.54% 2.08% 0.00% 0.02% 13.16% 56.53% ★★★★
2 Parkview (South P) $413,583 71.21% 83.20% 2.01% 0.00% 0.02% 13.21% 56.30% ★★★½
3 Central London (East F) $476,364 98.48% 52.71% 14.92% 0.13% 0.15% 31.85% 51.13% ★★★½
4 Glanworth (South AA) $412,541 63.64% 74.00% 1.76% 0.00% 0.02% 12.94% 56.08% ★★★½
5 Oakridge (South C) $414,950 77.65% 79.20% 2.33% 0.01% 0.02% 12.82% 56.66% ★★★½
6 Highland (South K) $418,345 81.06% 59.11% 3.12% 0.01% 0.03% 13.08% 55.42% ★★★½
7 River Bend (South A) $411,676 50.00% 84.92% 1.55% 0.00% 0.02% 13.15% 56.18% ★★★½
8 Hamilton Road (South Q) $418,229 63.64% 54.39% 3.09% -0.01% 0.03% 12.61% 55.96% ★★★½
9 Byron (South B) $414,411 74.62% 69.77% 2.20% 0.00% 0.02% 12.88% 56.00% ★★★½
10 Westminster Industrial (South Z) $412,233 57.58% 66.11% 1.69% 0.00% 0.02% 12.97% 55.97% ★★★½
11 Westmount (South M) $413,057 67.80% 65.84% 1.88% 0.00% 0.02% 12.89% 56.08% ★★★½
12 Old Victoria (East Q) $466,103 95.45% 31.58% 13.05% 0.11% 0.13% 9.89% 54.51% ★★★½
13 Glendale (South O) $411,454 46.97% 66.23% 1.50% 0.00% 0.01% 13.11% 55.96% ★★★½
14 Central London (East N) $462,685 90.91% 28.16% 12.41% 0.10% 0.12% 9.75% 54.42% ★★★½
15 Hyland Estates (North R) $394,785 49.24% 75.78% -2.66% 0.03% -0.03% 13.04% 58.13% ★★★½
16 Westminster (South R) $411,965 54.55% 58.31% 1.62% 0.00% 0.02% 12.99% 55.93% ★★★
17 Tempo (South HH) $412,240 60.61% 69.60% 1.69% 0.00% 0.02% 13.00% 56.01% ★★★
18 Sunningdal (North S) $387,947 46.59% 62.24% -4.47% 0.01% -0.04% 11.95% 56.31% ★★★
19 Highland (South L) $414,693 76.14% 32.54% 2.27% 0.01% 0.02% 12.47% 55.43% ★★★
20 Crumlin (East J) $466,254 96.97% 31.61% 13.08% 0.11% 0.13% 9.87% 54.70% ★★★
21 Westminster (South S) $411,951 53.03% 72.93% 1.62% 0.00% 0.02% 13.00% 56.08% ★★★
22 Southcrest (South F) $411,783 51.52% 74.11% 1.58% 0.00% 0.02% 13.20% 55.99% ★★★
23 Glanworth (South BB) $457,372 86.36% 40.28% 11.39% 0.09% 0.11% 10.45% 55.31% ★★★
24 Central London (East M) $412,213 56.06% 63.95% 1.68% 0.00% 0.02% 12.97% 56.00% ★★★
25 Hamilton Park (East P) $465,088 93.94% 29.74% 12.86% 0.11% 0.13% 9.91% 54.48% ★★★
26 Tempo (South GG) $412,233 57.58% 61.61% 1.69% 0.00% 0.02% 12.97% 55.93% ★★★
27 Broughdale (East B) $542,299 100.00% 27.59% 25.27% 0.23% 0.25% 17.12% 44.59% ★★★
28 Westmount (South D) $461,464 87.88% 33.07% 12.17% 0.10% 0.12% 9.83% 54.71% ★★★
29 Central London (East L) $410,492 43.18% 66.45% 1.27% -0.01% 0.01% 13.17% 55.82% ★★★
30 South London (East K) $463,803 92.42% 31.27% 12.62% 0.10% 0.13% 10.04% 54.67% ★★★
31 Admiral Park (East I) $456,603 84.85% 33.56% 11.24% 0.09% 0.11% 10.10% 54.83% ★★★
32 Fairmont (East O) $462,647 89.39% 24.86% 12.40% 0.10% 0.12% 9.84% 54.24% ★★★
33 Highland (South G) $412,685 65.53% 46.14% 1.79% 0.00% 0.02% 12.78% 55.67% ★★★
34 Tempo (South MM) $278,878 4.55% 96.60% -45.33% -0.49% -0.45% 20.34% 61.86% ★★★
35 Argyle (East H) $412,327 62.12% 30.84% 1.71% 0.00% 0.02% 12.94% 0.00% ★★★
36 Lambeth (South V) $420,835 82.58% 34.93% 3.70% 0.02% 0.04% 11.54% 55.44% ★★★
37 Tempo (South H) $411,137 45.08% 70.64% 1.42% 0.00% 0.01% 13.08% 55.96% ★★★
38 Carling Heights (East G) $276,222 1.52% 98.14% -46.72% -0.50% -0.47% 21.17% 66.72% ★★★
39 Glencairn (South J) $410,172 40.91% 60.86% 1.19% -0.01% 0.01% 13.06% 55.82% ★★★
40 White Oaks (South X) $407,538 32.20% 73.87% 0.55% -0.01% 0.01% 12.74% 56.15% ★★★
41 Longwoods (South W) $413,150 69.32% 36.44% 1.90% 0.00% 0.02% 12.69% 55.49% ★★★
42 Westmount (South E) $409,778 37.50% 55.63% 1.10% -0.01% 0.01% 13.03% 55.73% ★★★
43 Highbury (South T) $409,984 39.39% 60.33% 1.15% -0.01% 0.01% 12.91% 55.86% ★★★
44 Carling (East C) $277,864 3.03% 98.47% -45.86% -0.50% -0.46% 21.02% 62.55% ★★★
45 Chelsea (South I) $409,604 35.98% 49.59% 1.05% -0.01% 0.01% 12.77% 55.87% ★★½
46 Medway (North I) $383,479 24.62% 62.94% -5.69% 0.00% -0.06% 12.08% 56.20% ★★½
47 Heritage Estates (South Y) $409,043 33.71% 63.44% 0.92% -0.01% 0.01% 12.85% 55.98% ★★½
48 Northridge (North D) $386,902 45.45% 34.47% -4.75% 0.02% -0.05% 12.26% 55.69% ★★½
49 Tallwood (North G) $383,510 27.65% 43.57% -5.68% 0.00% -0.06% 12.48% 55.87% ★★½
50 Masonville (North A) $385,460 39.02% 29.67% -5.14% 0.00% -0.05% 12.68% 55.36% ★★½
51 Oakridge Meadows (North M) $385,840 41.29% 28.24% -5.04% 0.00% -0.05% 11.93% 55.36% ★★½
52 Hyde Park (North E) $383,593 29.17% 37.02% -5.65% 0.00% -0.06% 12.30% 55.54% ★★½
53 Medway (North F) $382,439 18.94% 56.31% -5.97% -0.01% -0.06% 12.41% 56.03% ★★½
54 Oakridge Acres (North P) $383,508 26.14% 49.19% -5.68% 0.00% -0.06% 12.67% 55.87% ★★½
55 Uplands (North B) $387,880 45.08% 18.26% -4.49% 0.01% -0.04% 12.53% 54.09% ★★½
56 Byron (North L) $384,832 36.74% 28.03% -5.31% 0.00% -0.05% 12.53% 55.27% ★★½
57 Huron Heights (East D) $331,563 6.06% 59.10% -22.23% -0.25% -0.22% 15.74% 55.13% ★★½
58 Stoneybrook (North H) $382,024 15.15% 40.46% -6.09% -0.01% -0.06% 12.42% 55.71% ★★
59 Fox Hollow (North T) $384,667 35.23% 19.69% -5.36% 0.00% -0.05% 11.41% 55.28% ★★
60 University (North K) $381,711 12.88% 36.30% -6.18% -0.01% -0.06% 12.41% 55.54% ★★
61 North Park (North C) $382,311 17.42% 31.43% -6.01% -0.01% -0.06% 12.36% 55.47% ★★
62 Hazeldon Park (North Q) $383,332 22.73% 16.28% -5.73% 0.00% -0.06% 12.56% 0.00% ★★
63 Riverside Gardens (North O) $382,636 20.83% 27.28% -5.92% -0.01% -0.06% 12.08% 55.43% ★★
64 Southcrest (North N) $379,603 10.23% 32.53% -6.77% -0.01% -0.07% 12.23% 55.53% ★★
65 Airport (East E) $370,320 8.71% 26.91% -9.44% -0.12% -0.09% 0.00% 19.46% ★★
66 Huran Heights (East A) $348,649 19.70% 9.87% -16.24% 0.00% -0.16% 11.89% 45.65% ★★
Value
Measures how affordable the neighbourhood is compared to the surrounding area and the region overall
Momentum
Measures how quickly prices are appreciating in this neighbourhood, with an emphasis on long term appreciation

For more, please see our complete methodology

Top 3 neighbourhoods to buy

1. Summerside (South U)

This year, the best area to buy a single-family home in Greater London is in the southeast community of Summerside. This neighbourhood is a newly built subdivision that offers contemporary homes with all the modern features a young family would need. Homes are family-sized but the lots are smaller and easier to care for. Families will love that the area is full of soccer fields, parks, community churches and even a sports complex. It also offers first-time buyer options, including condos. Single-family homes in this neighbourhood sell for just over 2% above the average house price for Greater London, at an average of $413,898.

2. Parkview (South P)

The neighbourhood of Parkview (known as South P to real estate agents) is poised for appreciation. Also in London’s south end, Parkview offers single-family homes that sell, on average, for about 2% more than others in the area. This community attracts families and, according to 2011 and 2016 NHS Statistics Canada data, almost a quarter (23%) of the area’s population is under age 19 (of which, 17% are under age 14). As can be expected, there are a higher number of married and common-law households in this area—about 56%.

Single family homes comprise about 45% of the housing stock, although buyers looking to get into the neighbourhood at a lower price point can find semi-detached homes (4% of the housing stock) as well as freehold row houses (20% of the housing stock).

But if you’re keen on commuting using public transit or by biking or walking to work, this may not be the neighbourhood for you. Two-thirds of the residents in this community use a car to commute to work, while just 8% use public transit, and another 5% either walk or bike to work.

3. Central London (East F)

The neighbourhood of Central London (East F) may appear to be an odd choice for our Top 3, given that housing prices are almost 15% higher than the city’s average, and almost half of this community is made up of self-professed single folks.

The community’s young vibe is filled with those who have spent their time in post-secondary and are now interested in taking the next step towards “adulting.” It’s also a community where many renters may have set down roots and, as a result, want to stay near the city’s core. More than three-quarters (78%) of dwellings are rental units, and 35% of commuters either walk, bike or take public transit. Retention rates are also very good: Fully 38% of neighbourhood residents are still living at the same location that they were living in five years ago.

That means investors or buyers looking for a mortgage helper will find a plentiful supply of potential renters in Central London. It’s an option that looks even better when you consider that property prices have appreciated by 32% in a year, and 51% in the last five years.