The London housing market is showing signs of renewed activity after months of relatively steady prices, according to Dale Marsh, 2025 chair of the London and St. Thomas Association of Realtors (LSTAR).
“Over the last few weeks, the market just feels a little bit different. It feels like there’s pent up demand, I would say, tariff fatigue, if you will, of people just kind of sitting tight and being stressed about the market,” Marsh said. “Buyers are starting to come back to life and come back to the market again here.”
Marsh noted that average home prices have fallen in recent months after remaining steady for over a year.
“Our average price had been holding pretty steady for about a year and a half between $645,000 to $655,000. And the last two, three months, it started dropping because we had a record number of listings on the market and kind of low buyer demand,” he said.
Government programs are also helping buyers. The city of London has the London Home Affordability Program, which offers eligible first-time buyers up to 5 per cent of the home price, or $25,000, to use as a down payment.
“It’s a good way to start to get into a home and start building equity instead of paying rent,” he said.
Marsh added that sellers are adjusting their expectations in the current competitive environment.
“Serious sellers because they have so much competition out there…they’re finding they need to be very competitive and stand out from the competition which might mean lowering their price or possibly taking a lower offer than they originally anticipated,” he said.
Looking ahead, Marsh expects market activity to continue at a steady pace through the fall and possibly into the winter months.
“Typically in the London area, the busiest time of year is the spring, which is March, April, May. Summertime, it gets a little quieter, but still steady. And then the second busiest is the fall, so September, October, November, which is where we are currently.”
Buyer interest is picking up and home prices have eased slightly while sellers are adjusting to a more competitive market in London.
