London Housing Market Outlook 2026
London Market Report Summary 2026
- The average selling price of a home in London decreased by 7.3% year-over-year to $559,900 in November 2025.
- The average selling price of a single-family home in London decreased by 8.6% year-over-year to $613,300 in November 2025.
- The average selling price of a townhouse/multiplex in London decreased by 7% year-over-year to $459,000 in November 2025.
- The average selling price of a condo in London decreased by 7.8% year-over-year to $329,900 in November 2025.
- The average rent in London is now $1,936 for November 2025.
- December 19, 2025: Today’s lowest mortgage rate in London is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in London was $559,900 for the month of November 2025, that’s decreased by 1% compared to the previous month. On a year-over-year basis, London home prices have decreased 7.3% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in London was $613,300 for the month of November 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, single-family home prices in London have decreased by 8.6% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in London was $459,000 for the month of November 2025, that’s decreased by 1.2% compared to the previous month. On a year-over-year basis, the price of a townhouse in London has decreased by 7% over the last 12 months.
Condo Prices
The average selling price of a condo in London was $329,900 for the month of November 2025, that’s decreased by 3.1% compared to the previous month. On a year-over-year basis, the price of a condo in London has decreased 7.8% over the last 12 months.
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London Housing Market Summary
Data from the London and St. Thomas Association of Realtors (LSTAR) indicates that the average price of resale residential homes sold across London in November 2025 was $559,900, and it decreased of 7.3% compared to a year ago.
LSTAR also reported a sales-to-new-listings ratio (SNLR) of 49%, indicating Balanced market conditions in London for November 2025.
London Shows Stable Prices as Inventory Reaches Decade High
According to the London and St. Thomas Association of Realtors (LSTAR), this November marked a slower but steady period for the London housing market, with sales cooling YoY while inventory climbed to its highest November level in over a decade. A total of 492 homes changed hands during the month, down 19.2% from November last year, but still broadly in line with activity seen over the past 4 years.
London Market Snapshot for November
The latest MLS data points to balanced but supply-heavy conditions.
- Residential home sales totalled 492, down 19.2% YoY
- Months of inventory rose to 5.7, the highest November reading in 10 years
- Average sale price was $604,994, virtually unchanged from October but down 5.6% from last year
- MLS Home Price Index composite benchmark declined 1% MoM
- Year-over-year price pressure remains modest, with stability improving relative to sales activity
Home Prices Ease Slightly Across Most Property Segments
Home price adjustments continued at a measured pace in London. The LSTAR composite benchmark price stood at $559,900 in November, down 1% from October and 2.4% from August. Condo/apartment benchmark prices recorded the most significant short-term decline, down 3.1% MoM and 7.6% over the past 3 months, while single-family and townhouse benchmarks showed smaller, more gradual adjustments. This pricing divergence reflects greater supply pressure in lower-priced and multi-unit segments.
Inventory Expansion Shapes Buyer Behaviour
Rising inventory is the defining feature of London’s market. With 5.7 months of inventory, buyers have significantly more choice and time to negotiate than in recent years. Sales volumes are softer, but prices have remained relatively resilient, suggesting that sellers who price realistically are still finding success. This environment favours patient buyers and disciplined sellers rather than rapid transactions.
Regional Price Differences Remain Pronounced
Home price levels vary meaningfully across the region. Benchmark prices ranged from roughly $432,400 in London East to $767,200 in Middlesex Centre, highlighting the importance of neighbourhood-level dynamics. While average prices can fluctuate with sales mix, the benchmark data continues to provide a clearer signal of underlying price trends across London and surrounding communities.
Month-over-Month Market Expectations for London
Transactions – Number of Sales
The number of sales in London was 492 during November 2025, that’s decreased by 18.9% compared to the previous month. On a year-over-year basis, sales in London have decreased by 19.9% over the last 12 months.
New Listings
The number of new listings in London was 994 during November 2025, that’s decreased by 31.8% compared to the previous month. On a year-over-year basis, new listings in London have decreased by 9.8% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in London was 49% during November 2025, indicating a Balanced. On a monthly basis, that’s increased by 18.9% compared to the previous month. London’s yearly sales to new listings ratio has decreased by 11.2% over the last 12 months.
The sales to new listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in London
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London Market Rents Summary
The average rent in London was $1,936 for the month of November 2025.
The average rent for a 1-bedroom apartment in London was $1,665 for the month of November 2025, which decreased by 6.6% on a year-over-year basis.
The average rent for a 2-bedroom apartment in London was $2,070 for the month of November 2025, which decreased by 5.1% on a year-over-year basis.
How Does Renting Compare with Homeownership in London?
Each $100,000 in mortgage balance costs an average of $520.07 per month on nesto’s lowest fixed 5-year rate at
The rates used for calculation are those offered for insured purchases with less than a 20% downpayment and a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is set to 4.45%.
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
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Frequently Asked Questions (FAQ) on London Housing Market Outlook for 2025
Will home prices in London rise in 2025?
London’s home prices are expected to stabilize with slight increases in 2025. The city’s affordability and proximity to the Greater Toronto Area (GTA) make it attractive for buyers seeking better value.
Is London a good city to buy a home in 2025?
London remains a top choice for buyers priced out of larger cities like Toronto. It offers substantial investment opportunities, affordable housing, growing infrastructure, and a demand for suburban living.
Will mortgage rates improve affordability in London?
Stabilizing mortgage rates paired with lower home prices in 2025 could increase affordability, attracting first-time homebuyers (FTHB) and investors to London’s housing market.
How affordable will London homes be in 2025?
London’s housing prices will remain significantly more affordable than those of cities like Toronto. Options for single-family homes, condos, and townhouses will suit a range of budgets.
What trends will drive London’s housing market in 2025?
Affordability, rising demand from GTA buyers, and population growth will continue to drive London’s housing market through 2025.
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