Buyer's Market
Mortgage Rates in London, ON
London is a major southwestern Ontario city with two universities, a growing tech sector, and home prices well below the GTA.
Avg Home Price
$590,000
Benchmark Price
$565,000
Year-Over-Year
↓ 3.8%
Best 5-Yr Fixed
4.89%
Today's Best Rates Near London
| Rate Type | Best Rate |
|---|---|
| 5-Year Fixed | 4.89% |
| 5-Year Variable | 5.45% |
| 3-Year Fixed | 4.74% |
| 2-Year Fixed | 5.1% |
| HELOC | 6.2% |
*Based on $500K mortgage, 25-year amortization, Canadian semi-annual compounding. Last updated: May 25, 2026.
London Real Estate Market
Buyer's Market: Supply exceeds demand — buyers have more negotiating power and time.
London is a major southwestern Ontario city with two universities, a growing tech sector, and home prices well below the GTA.
Land Transfer Tax — London
London buyers pay Ontario provincial LTT only. First-time buyers receive rebates up to $4,000.
Neighbourhoods in London
Old NorthByronWortley VillageMasonvilleWhite Oaks
Frequently Asked Questions
What is the average home price in London Ontario?
The average home price in London, Ontario is approximately $590,000, significantly more affordable than the GTA.
Is London Ontario a good place to buy real estate?
London offers strong university rental demand (Western and Fanshawe), a growing tech sector, and good affordability making it attractive for both homeowners and investors.
What are the best neighbourhoods in London Ontario?
Wortley Village and Old North are charming established areas. Masonville is popular for families near the mall. Byron offers trails and parks.
Is London Ontario good for first-time buyers?
Yes — London's affordability relative to the GTA makes it one of Ontario's better markets for first-time buyers, particularly for detached homes under $700K.
What is London Ontario's rental market like?
London has a strong rental market driven by Western University and Fanshawe College students. Rental vacancy rates are consistently low.
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