London Housing Market Outlook 2026
London Sales Hold Steady on Par With Recent Years
According to the London and St. Thomas Association of Realtors (LSTAR), home sales in June 2026 rose 1.6% year over year to 753 units, a pace the board describes as on par with the past 4 years, even as the average price fell 6.7% to $606,614.
- The MLS HPI composite came in at $561,100, down 1.6% from May and 0.3% from March, with the softest area readings concentrated in London East and apartment-style units.
- The sales-to-new-listings ratio eased to 41.6% from 42.8% in May, and months of inventory sit at 4.6, both pointing to a market that favours buyers.
- Pricing varies widely by area, from a benchmark near $434,000 in London East to over $780,000 in Middlesex Centre, underlining how local London’s market really is.
Start by comparing mortgage rates in London and reach out to nesto mortgage experts to see what your purchase could look like at today’s prices.
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London Housing Market Highlights
- The average selling price of a home in London decreased by 3.5% year-over-year to $561,100 in June.
- The average selling price of a single-family home in London decreased by 3.9% year-over-year to $613,800 in June.
- The average selling price of a townhouse/multiplex in London decreased by 9.3% year-over-year to $432,900 in June.
- The average selling price of a condo in London decreased by 8.7% year-over-year to $324,100 in June.
- The average rent in London is now $1,932 for June.
- August 19, 2026: Today’s lowest mortgage rate in London is 4.24% 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 June was $561,100, and itdecreased of 3.5% compared to a year ago.
LSTAR also reported a sales-to-new-listings ratio (SNLR) of 42%, indicating Balanced market conditions in London for June.
Composite Home Prices
The average selling price of a home in London was $561,100 for the month of June, that’s decreased by 1.6% month over month. On a year-over-year basis, London home prices have decreased 3.5% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in London was $613,800 for the month of June, that’s decreased by 1.6% month over month. On a year-over-year basis, single-family home prices in London have decreased by 3.9% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in London was $432,900 for the month of June, that’s decreased by 1.4% month over month. On a year-over-year basis, the price of a townhouse in London has decreased by 9.3% year-over-year.
Condo Prices
The average selling price of a condo in London was $324,100 for the month of June, that’s decreased by 5.2% month over month. On a year-over-year basis, the price of a condo in London has decreased 8.7% year-over-year.
Transactions – Number of Sales
The number of sales in London was 753 during June, that’s decreased by 3% month over month. On a year-over-year basis, sales in London have increased by 1.1% year-over-year.
New Listings
The number of new listings in London was 1,810 during June, that’s increased by N/A month over month. On a year-over-year basis, new listings in London have increased by N/A year-over-year.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in London was 42% during June, indicating a Balanced. On a monthly basis, that’s increased by N/A month over month. London’s yearly sales to new listings ratio has decreased by N/A year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% indicates a buyer’s market, in which buyers hold the upper hand and greater 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 Snapshot
The average rent in London was $1,932 for the month of June.
The average rent for a 1-bedroom apartment in London was $1,664 for the month of June, which decreased by 5.3% year over year.
The average rent for a 2-bedroom apartment in London was $2,068 for the month of June, which decreased by 5.3% year over year.
Rental Price Changes by City
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $3,039 | $2,588 | $3,458 |
| 2 | Vancouver | $2,686 | $2,377 | $3,255 |
| 3 | Toronto | $2,580 | $2,234 | $2,947 |
| 4 | North York | $2,565 | $2,188 | $2,743 |
| 5 | Burnaby | $2,543 | $2,159 | $2,802 |
| 6 | Coquitlam | $2,526 | $2,134 | $2,753 |
| 7 | Oakville | $2,517 | $2,198 | $2,819 |
| 8 | Kanata | $2,514 | $2,230 | $2,751 |
| 9 | Etobicoke | $2,439 | $2,094 | $2,624 |
| 10 | Halifax | $2,372 | $2,071 | $2,616 |
| 11 | Burlington | $2,370 | $2,075 | $2,448 |
| 12 | Mississauga | $2,357 | $2,052 | $2,445 |
| 13 | Vaughan | $2,319 | $2,048 | $2,580 |
| 14 | Victoria | $2,307 | $2,016 | $2,682 |
| 15 | Brampton | $2,285 | $2,001 | $2,379 |
| 16 | Langley | $2,239 | $1,899 | $2,457 |
| 17 | Ajax | $2,234 | $1,878 | $2,218 |
| 18 | Guelph | $2,217 | $1,905 | $2,280 |
| 19 | Scarborough | $2,213 | $1,872 | $2,288 |
| 20 | New Westminster | $2,190 | $1,880 | $2,656 |
| 21 | Surrey | $2,167 | $1,794 | $2,239 |
| 22 | Ottawa | $2,164 | $1,960 | $2,449 |
| 23 | Barrie | $2,155 | $1,863 | $2,108 |
| 24 | Waterloo | $2,118 | $1,915 | $2,234 |
| 25 | Kingston | $2,100 | $1,827 | $2,271 |
| 26 | Laval | $2,096 | $1,732 | $2,356 |
| 27 | Nanaimo | $2,092 | $1,835 | $2,290 |
| 28 | Kelowna | $2,091 | $1,808 | $2,248 |
| 29 | East York | $2,050 | $1,791 | $2,312 |
| 30 | Cambridge | $2,042 | $1,847 | $2,139 |
| 31 | Greater Sudbury | $2,021 | $1,708 | $2,072 |
| 32 | Oshawa | $2,002 | $1,740 | $2,017 |
| 33 | Airdrie | $1,987 | $1,441 | $1,804 |
| 34 | Peterborough | $1,977 | $1,742 | $1,957 |
| 35 | Brossard | $1,970 | $1,722 | $2,199 |
| 36 | Kamloops | $1,956 | $1,731 | $2,042 |
| 37 | Montreal | $1,941 | $1,769 | $2,255 |
| 38 | Niagara Falls | $1,940 | $1,600 | $1,980 |
| 39 | Brantford | $1,936 | $1,807 | $2,043 |
| 40 | Hamilton | $1,929 | $1,654 | $2,235 |
| 41 | London | $1,924 | $1,670 | $2,058 |
| 42 | Kitchener | $1,908 | $1,684 | $2,078 |
| 43 | Calgary | $1,883 | $1,513 | $1,847 |
| 44 | St. Catharines | $1,817 | $1,558 | $1,931 |
| 45 | Welland | $1,779 | $1,522 | $1,985 |
| 46 | Gatineau | $1,775 | $1,592 | $1,852 |
| 47 | Côte Saint-Luc | $1,704 | $1,441 | $1,997 |
| 48 | Windsor | $1,685 | $1,492 | $1,921 |
| 49 | Sarnia | $1,680 | $1,495 | $1,728 |
| 50 | Winnipeg | $1,663 | $1,463 | $1,759 |
| 51 | Edmonton | $1,617 | $1,282 | $1,638 |
| 52 | Red Deer | $1,536 | $1,293 | $1,509 |
| 53 | Lethbridge | $1,519 | $1,342 | $1,571 |
| 54 | Quebec City | $1,516 | $1,279 | $1,611 |
| 55 | Saskatoon | $1,514 | $1,310 | $1,537 |
| 56 | Regina | $1,444 | $1,300 | $1,540 |
| 57 | Fort McMurray | $1,412 | $1,221 | $1,426 |
| 58 | Medicine Hat | $1,359 | $1,237 | $1,380 |
| 59 | Lloydminster | $1,348 | $1,072 | $1,386 |
| 60 | St. John's | $1,215 | $1,105 | $1,314 |
Source: Rentals.ca Network Data & Urbanation Inc.
Rental Price Changes by Province
Rental Price Growth by Housing Type
How Does Renting Compare with Homeownership in London?
Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.24% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.45%.
For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. 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%.
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Frequently Asked Questions (FAQ) About the London Housing Market Outlook for 2026
Why is London leaning toward a buyer’s market in 2026?
London is trending toward a buyer’s market due to stable prices and rising housing supply.
Are London home prices expected to rise or remain flat in 2026?
London home prices are expected to remain relatively flat in 2026, with limited upward pressure.
Is affordability in London expected to improve in 2026?
Affordability in London’s housing market has improved relative to larger Ontario markets so far in 2026, although limited income growth remains the most significant hurdle.
Which buyers are most active in London’s housing market?
Local end-user buyers are more active than investors in London’s housing market.
What could shift London back toward a seller’s market?
A decline in listings or renewed population inflows could shift London back toward seller’s market conditions.
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