Market Update

ANALYSIS: Why mortgage changes won’t loosen London’s tight rental market

The federal government's decision to extend 30-year mortgages to first-time homebuyers is not expected to significantly alleviate the challenges faced by London renters, who are contending with a low vacancy rate and rising rents. While the changes may help some buyers enter the market, experts believe the impact on rental supply will be minimal. London's turnover rate for rental units has...

London’s core has more vacant office space than any other Canadian city

London's downtown office vacancy rate has reached a record 31.4%, with nearly 1.3 million sq. ft. unoccupied, up from 27.3% last year. In contrast, suburban vacancies decreased to 9.3%. The overall vacancy rate in London stands at 25.7%. The increase in downtown vacancies is attributed to firms downsizing rather than leaving the area. Local officials are exploring ways to promote vacant spaces and...

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