The prices in real estate in London, in the Ontario region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in London has had a strong decrease during the last 6 months. In December, the average price per sq.feet was $76,392. In the following month the price per sq.feet decreased considerably to $53,964. The price for the following two months in (February, March) had a considerable decrease of 36 with regard to the prior two months. The price per sq.feet has had a considerable increase of 128 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $44,244.75 to $56,596.5 during April, and May.
Based upon to the price in London (cities), this has fallen considerably in the last 6 months. The average price for December is $586,038. During January the price had a slight fall till $530,396. During the following two months (February, March) the average price had a considerable reduction of 55 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 123 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $504,774 they are 26 % more affordable than the average price for London. The properties with the highest average price have 4 bedrooms, Their price is 40 % more costly than the average. After that we have properties with 3 bedrooms priced at $481,016.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $283 / sq.feet, with an average $86,689 / sq.feet price in London. The properties with the lowest average prices have 2 bedrooms. They are 100 % cheaper than the average followed by properties with 3 bedrooms with a price at $307 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $504,774 it is 38 % cheaper than the average price in London. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of $528,805 it is 8 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $8,516 / sq.feet followed by "Apartment" priced at $43,947 / sq.feet. "House" is the most costly type of property with a $99,476 / sq.feet cost followed by "Office" with an average price of $53,802 / sq.feet.