London Inventory Hits a New Peak and Tips the Market to Buyers

According to the London and St. Thomas Association of Realtors (LSTAR) for August 2026, 526 homes sold across the region, and inventory hit a new peak of 6.3 months’ supply. The sales-to-new-listings ratio fell to 37.5% from 44.5% in July, putting London below the 40% threshold and into buyers’ market territory—the only Tier 1 market to do so this month.

• The composite benchmark was $553,500, down 0.6% month-over-month and 2.9% from May. Compared with a year earlier, the benchmark is down 3.5%.
• Apartments are falling fastest. The LSTAR apartment benchmark fell 4.3% in a single month to $315,900 and is down 7.6% since May, while townhouses rose 0.5% to $430,400.
• The average sale price across all LSTAR regions was $590,550. Two areas bucked the trend month over month, with London East rising to $489,735 from $456,416 and St. Thomas to $557,485 from $500,819.

A market at 6.3 months of supply with a 37.5% ratio gives buyers genuine leverage, and LSTAR chair Robin Tiller called August a buyers’ market. Caution is in the apartment segment, where a 4.3% drop in one month is steep enough that anyone buying a condo here should think carefully about how long they plan to hold it.

London offers the most room to negotiate of any market we track this month. Compare mortgage rates in London and contact our nesto mortgage experts to get pre-qualified before you start making offers.

London Housing Market Highlights

• The average selling price of a home in London decreased by 3.52% year-over-year to $553,500 in August 2026.
• The average selling price of a single-family home in London decreased by 4.26% year-over-year to $601,900 in August 2026.
• The average selling price of a townhouse/multiplex in London decreased by 7.84% year-over-year to $430,400 in August 2026.
• The average selling price of a condo in London decreased by 11.51% year-over-year to $315,900 in August 2026.
• October 2, 2026: Today’s lowest mortgage rate in London is 4.59% for a 5-year fixed.

Data from the London and St. Thomas Association of Realtors (LSTAR) indicates that the average price of resale residential homes sold across London in August 2026 was $553,500, and it decreased by 3.52% compared to a year ago.

LSTAR also reported a sales-to-new-listings ratio (SNLR) of 37.5%, indicating buyers market conditions in London for August 2026.

London	Composite Price August 2026	Composite Price July 2026	YoY Change (%)	MoM Change (%)
Single Family Home	$601,900	$606,800	decreased by 4.26%	decreased by 0.81%
Townhouse/Multiplex	$430,400	$428,400	decreased by 7.84%	increased by 0.47%
Condo / Apartments	$315,900	$330,000	decreased by 11.51%	decreased by 4.27%
Composite	$553,500	$557,000	decreased by 3.52%	decreased by 0.63%

London Home Price Changes Over The Last Decade

Composite Home Prices

Single-Family Home Prices

Townhouse and Multiplex Prices

Condo Prices

London Housing Market Conditions

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London Market Rents Snapshot

The average rent in London was $1,913 in August 2026 and has decreased by 4.78% year over year.

The average rent for a 1-bedroom apartment in London was $1,651 for August 2026 and has decreased by 4.57% year over year.

The average rent for a 2-bedroom apartment in London was $2,030 for August 2026 and has decreased by 4.25% year over year.

Average Rents for Cities Across Canada

Rank	City	Total Avg	1 Bed	2 Bed
1	North Vancouver	$3,036	$2,501	$3,434
2	Vancouver	$2,729	$2,350	$3,248
3	Oakville	$2,695	$2,316	$3,021
4	Toronto	$2,571	$2,221	$2,939
5	Kanata	$2,524	$2,251	$2,754
6	Burnaby	$2,520	$2,119	$2,724
7	North York	$2,519	$2,085	$2,690
8	Coquitlam	$2,510	$2,087	$2,709
9	Etobicoke	$2,441	$2,081	$2,653
10	Vaughan	$2,422	$2,110	$2,516
11	Burlington	$2,386	$2,068	$2,425
12	Halifax	$2,365	$1,999	$2,591
13	Mississauga	$2,346	$2,042	$2,443
14	Barrie	$2,332	$2,103	$2,472
15	Langley	$2,266	$1,911	$2,480
16	Brampton	$2,259	$1,971	$2,351
17	Victoria	$2,255	$1,994	$2,649
18	Guelph	$2,224	$1,927	$2,276
19	New Westminster	$2,203	$1,901	$2,655
20	Kingston	$2,200	$1,933	$2,353
21	Ottawa	$2,200	$1,958	$2,470
22	Scarborough	$2,187	$1,835	$2,319
23	Surrey	$2,185	$1,796	$2,250
24	Ajax	$2,182	$1,890	$2,241
25	Waterloo	$2,169	$1,922	$2,337
26	Laval	$2,130	$1,726	$2,352
27	Nanaimo	$2,078	$1,844	$2,251
28	Kelowna	$2,073	$1,823	$2,248
29	East York	$2,056	$1,792	$2,379
30	Brossard	$2,044	$1,767	$2,139
31	Cambridge	$2,027	$1,834	$2,174
32	Oshawa	$2,023	$1,740	$2,019
33	Niagara Falls	$1,978	$1,659	$1,958
34	Airdrie	$1,966	$1,429	$1,774
35	Greater Sudbury	$1,959	$1,720	$2,101
36	Kamloops	$1,957	$1,750	$2,026
37	Montreal	$1,957	$1,742	$2,259
38	Kitchener	$1,938	$1,691	$2,084
39	Hamilton	$1,921	$1,653	$2,135
40	London	$1,913	$1,651	$2,030
41	Brantford	$1,911	$1,787	$2,025
42	Peterborough	$1,892	$1,680	$1,918
43	Calgary	$1,885	$1,508	$1,845
44	St. Catharines	$1,810	$1,530	$1,921
45	Gatineau	$1,776	$1,607	$1,857
46	Welland	$1,754	$1,505	$1,978
47	Côte Saint-Luc	$1,710	$1,405	$1,966
48	Windsor	$1,670	$1,475	$1,906
49	Winnipeg	$1,646	$1,426	$1,754
50	Edmonton	$1,631	$1,275	$1,646
51	Sarnia	$1,607	$1,438	$1,674
52	Quebec City	$1,586	$1,299	$1,677
53	Red Deer	$1,573	$1,345	$1,515
54	Lethbridge	$1,545	$1,334	$1,572
55	Saskatoon	$1,517	$1,295	$1,531
56	Regina	$1,468	$1,291	$1,536
57	Fort McMurray	$1,378	$1,163	$1,382
58	Medicine Hat	$1,371	$1,228	$1,381
59	Lloydminster	$1,330	$1,056	$1,412
60	St. John's	$1,293	$1,136	$1,453

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Average Rent by Province

LOCATION	Total	1B	2B
AB	$1,776	$1,405	$1,747
BC	$2,387	$2,048	$2,634
MB	$1,643	$1,419	$1,742
ON	$2,256	$1,968	$2,437
QC	$1,931	$1,690	$2,149
SK	$1,461	$1,265	$1,502
Atlantic Canada	$2,274	$1,909	$2,434
Canada	$2,035	$1,753	$2,146

Average Rent by Property Type Across Canada

TYPE	Total	1B	2B
All	$2,035	$1,753	$2,146
Apartment	$2,038	$1,799	$2,232
Condominium	$2,050	$1,827	$2,170
House/Townhouse	$2,014	$1,305	$1,733

How Does Renting Compare With Homeownership in London?

Each $100,000 in mortgage balance costs an average of $564 per month on nesto’s lowest fixed 5-year rate at 4.59%, and $506 per month on nesto’s lowest adjustable 5-year rate at 3.45%.

On the variable side, a 0.25% change in the Bank of Canada’s policy rate moves that payment by roughly $13.47 per $100,000 if rates rise, or $13.27 if they fall. Fixed payments aren’t affected the same way mid-term—a fixed rate is locked for the term and tracks bond yields, not the policy rate directly, so this sensitivity applies only to the variable side.

The interest rates used for the calculation are those offered on insured purchases with less than a 20% down payment, on a 25-year amortization, as of October 2, 2026 and are subject to change. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.

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Frequently Asked Questions (FAQ) About the London Housing Market in 2026

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nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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