Photo: 1382 Corley Driveis listed for sale at $2,698,800
We’re in the midst of a federal election. What does it mean for housing in our region? Sadly, if past results are to be trusted, we’ll hear promises that can’t be fulfilled.
Housing affordability (buying or renting) is likely to be a major issue. On the buying side, the proposed solutions will be geared to providing incentives to first-time buyers, making it easier for them to enter the market. These demand-side solutions are, of course, just exasperating the problem.
“Our ability to approve increases in housing density will likely decide whether our wonderful city can continue to attract new residents by remaining affordable”
We have a supply problem, but the remedies are often political minefields. Developers, the risk takers making investments in land for 20 and 30 years out, are sadly seen as short-term profiteers. There are hundreds of acres of land in and around London that could be built if developers were incentivized to pick up the pace.
Promoting infill development and increasing density, as the London Plan conceived, is still difficult to achieve as local politicians favour existing homeowners versus future residents. London’s ability to remain a prized destination due to housing affordability is in jeopardy. Our ability to approve increases in housing density will likely decide whether our wonderful city can continue to attract new residents by remaining affordable.
Market analysis provided by Marcus Plowright, Sales Representative, A Team London. Marcus can be reached at 519-872-8326 or marcus@ateamlondon.ca.
London East
Low
Address: 202-1170 Hamilton Road
MLS number: 40156096
List price: $159,000
Days on market: 5
Size: 1 bedroom, 1 bathroom, 642 square feet
Listing agent: Scott Vannoord, Salesperson, Sutton Group –Select Realty Inc.
High
Address: 151 Travelled Road
MLS number: 40120910
List price: $2,800,000
Days on market: 85
Size: 11 bedrooms, 5 bathrooms, 6,120 square feet
Listing agent: Geoff Mitchell, Sales Representative, ReMax Centre City Realty Inc., Brokerage
London North
Low
Address: 803-600 Grenfell Drive
MLS number: 40146146
List price: $329,900
Days on market: 32
Size: 2 bedroom, 1 bathroom, 900 square feet
Listing agent: Manzinder Singh Lotey, Sales Representative, Royal LePage Triland Realty, Brokerage
High
Address: 1382 Corley Drive
MLS number: 40129877
List price: $2,698,800
Days on market: 67
Size: 5 bedrooms, 5 bathrooms, 3,320 square feet
Listing agent: Kim Mullan, Broker, Sutton Group, Select Realty Inc., Brokerage
London South & West
Low
Address: 2o4-1106 Jalna Boulevard
MLS number: 40154357
List price: $239,900
Days on market: 1
Size: 1 bedroom, 1 bathroom, 500 square feet
Listing agent: Marcia Beaton, Sales Representative, EXP Realty, Brokerage
High
Address: 1938 Kilgorman Way
MLS number: 40146198
List price: $4,800,000
Days on market: 29
Size: 6 bedrooms, 5 bathrooms, 4,285 square feet
Listing agent: Simon A Farrugia, Sales Representative, Sutton Group Preferred Realty Inc. Brokerage
Disclaimer: London Inc. does not guarantee the accuracy of the statistical data on this page. The data does not represent the listings of any one agent or agency but represents the activity of the real estate community in the area. Any real estate agent’s ad appearing is separate from the statistical data provided, which is in no way a part of their advertisement.
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