London’s downtown core continues evolving

The City of London’s downtown core and surrounding area continues to see a changing skyline and revitalization. Case in point, the Tricar Group is building a 29-storey, 200-unit condominium high-rise at 505 Talbot Street called Azure. This new development was started just after Tricar’s recently completed two-tower Renaissance development at the southeast corner of King and Ridout Streets. As for the overall market, in September 2016, 866 homes sold in the London and surrounding area representing a 3.1% increase over September 2015. This was the best September on record for sales since the association of Realtors (LSTAR)  began systematically tracking in 1978. Year over year the median sale price rose 5.1% to $278,311 in September 2016 vs. $264,971 a year ago.