Market Updates

Nov. 4, 2021

BOC Hastens Timing of Rate Hike

Chris Bramwell October 2021 Market Report

The Bank of Canada has indicated that it might accelerate its plan to increase interests rates as soon as the second quarter of 2022.  The primary driver of the BOC’s shift in direction is the risk that inflation will exceed the BOC target range.  Please review the attached ...

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Posted in Market Updates
Oct. 7, 2021

Housing Shortage Drives Home Price Increase

Chris Bramwell September Market Report Image

The median home price in London increased to $603,000 in September.  This represented a 24.3% rise when compared to September 2020.  East London continued its rapid rise with the median home price up 29.2% over the same period in 2020.  North and South London ...

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Posted in Market Updates
Aug. 5, 2021

Hot Summer – Cooler Market

Chris Bramwell August 2021 Market Report

The median price rose 27.2% as compared to July 2020 but the current year trends indicate the median sales price may be stabilizing. The market reached a high in March 2021 and since then, has marginally declined this year, for four straight months. South London had the lowest monthly ...

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Posted in Market Updates
July 8, 2021

London Home Prices Stabilize

Chris Bramwell June 2021 Market Report

The rise in the median home price started to taper off in June. The median price rose 30.5% as compared to June 2020 but dropped to levels we haven’t seen since February of this year. One month does not make a trend however, I am cautiously optimistic that prices ...

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Posted in Market Updates
June 4, 2021

The Feds and The BOC Impact Buyers

Chris Bramwell June 2021 Market Report

The Federal Government changes to the Mortgage Stress Test, for both insured (less than 20% down payment) and uninsured (above 20% down payment), took effect on June 1st. This policy change affected the purchasing power of Buyers by approximately 4%. In addition, the Bank of Canada may continue to taper ...

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Posted in Market Updates
May 7, 2021

Mortgage Stress Test Changes Impact Home Buyers

Chris Bramwell April 2021 Market Report

A federal banking regulator, the Office of the Superintendent of Financial Institutions (OSFI) has given notice of their intention to tighten the mortgage stress test on June 1, 2021. The stress test pertains to buyers who will have a 20%+ down payment on their next home. This change could cut ...

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Posted in Market Updates
April 7, 2021

London Market Surges in March

Chris Bramwell MARCH 2021 Market Report Blog Image

Sales and listing activity moved higher in March. A total of 897 homes were sold in the month representing a 57.4% increase over March 2020. A total of 1,082 properties were listed during the month which represented a 29% increase over the same period last year.

The median ...

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Posted in Market Updates
Feb. 5, 2021

London Home Prices Continue to Rise

Chris Bramwell Market Report Jan. 2021

The median home price in London was up 37.5 % when compared to January 2020. The median home price rose the most in the North and South areas versus January 2020. The North increased by 36% and the South had a huge increase of 65.1%. The East showed the ...

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Posted in Market Updates
Jan. 9, 2021

No Winter Chill on Home Prices

Chris Bramwell Market Report DEC 2020

Home prices continue to rise with the median price increasing by 24.4% in December when compared to the same period in 2019. All market areas within London show similar percentage increases when compared to the same period last year. The Market Advantage Indicator jumped again for the third straight ...

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Posted in Market Updates
Dec. 9, 2020

Home Prices Continue To Rise

Chris Bramwell Prices Rise

The median home price in London increased to $495,000 in November. This represented a 30.3% rise when compared to November 2019. North London had its largest increase this year at 36.4% when compared to the same period in 2019 and South London followed closely behind at 33 ...

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Posted in Market Updates