London Ontario Real Estate – Who Is The Winner?
According to many of the talking heads on TV, on radio, in the newspapers and on Internet blogs, the housing market “bubble” is about to burst.
Connie and I spent lunch today listening to Walter Schneider, President and Co-founder of RE/MAX Ontario Atlantic, tell us that in his opinion, the Canadian real estate market is strong and very competitive compared to the rest of the developed world.
The Canadian housing affordability level is a fraction of most of the European and Asian markets. London real estate is a bargain even compared to the Toronto market, which in its self is seen as a bargain compared to the rest of the world markets with one exception at the moment, the US market.
Currently lenders are offering current and future home owners mortgage rates as low as 2.99% for 5 years and 3.99% for 7 years. How low will the interest rates go? Mr. Schneider is of the opinion that the current low interest rates being offered today are here for a few years.
This brings us back to the question “Who Is The Winner?”
It is our opinion that London Ontario home owners, current and future are the clear winners. Low interest rates, low housing costs and a quality of life make London one of the best places to invest in home ownership.
Fraser Grant is a broker with Remax Centre City Realty Inc.
Broker, ACCI, FCCI, CRES, CMOC
Broker, CPM, FRI, CMOC, CRP, ACCI, FCCI