London market update: a university city with room to build

London's market has three engines: Western University and Fanshawe College, a large hospital and research sector, and steady in-migration from the GTA looking for lower prices. Unlike the western GTA, London still has land to build on, so new subdivisions in the north and northwest keep adding supply.

That pipeline moderates price growth but also means new-build and resale homes compete directly. Buyers can often choose between a five-year-old home in a newer subdivision and an older home closer to downtown at a similar price.

Look closely at the difference between north London near the university, the older core around Woodfield and Old South, and the expanding south end. Each has a distinct buyer pool, a distinct rental market and a different pace of turnover.