2026 Home Buying Costs · Ontario LTT · CMHC Insurance · Closing Costs
London is Ontario's fifth-largest city and a major hub for healthcare, education, and insurance. Home to Western University, Fanshawe College, and one of Canada's largest hospital networks, London offers exceptional employment stability. The housing market has strong fundamentals — significant post-secondary student demand, a large professional workforce, and relative affordability compared to the GTA and Waterloo Region.
London's housing market is highly varied by neighbourhood. The median across all property types is around $620,000. Detached homes in premium areas like Wortley Village and Byron range from $700,000 to over $1M, while affordable options in East London and White Oaks can be found from $450,000. Condos and towns range from $380,000 to $600,000.
At London's median of $620,000, expect closing costs of $15,000–$21,000, including Ontario LTT of $9,225, legal fees (~$2,000–$2,500), title insurance (~$500), and home inspection (~$600). A 5% down payment requires $31,000 plus CMHC insurance premium.
| Cost Item | Estimated Amount | Notes |
|---|---|---|
| Ontario Land Transfer Tax | $8,875 | At median price; FTB rebate up to $4,000 |
| Legal Fees | $1,800 – $2,500 | Includes title search and registration |
| Title Insurance | $300 – $600 | One-time premium |
| Home Inspection | $500 – $700 | Recommended on all resale purchases |
| Moving Costs | $1,500 – $4,000 | Local moves lower; inter-city higher |
| CMHC Insurance (5% down) | ~$23,110 | Added to mortgage; paid over amortization |
| Property Tax Adjustment | Varies | Prepaid portion reimbursed to seller at closing |
| HST on New Builds | May apply | Not applicable on resale homes |
For a full breakdown of Ontario LTT brackets, visit our Ontario Land Transfer Tax guide.
London's most popular neighbourhoods include Wortley Village (heritage, walkable), Byron (family, prestigious schools), Old North (university adjacent, heritage), Masonville (shopping, executive homes), and White Oaks (affordable, south end). East London offers strong investor value near Fanshawe College.
Use the LTT calculator above to estimate your exact Ontario land transfer tax for any purchase price in London.
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No. Only the City of Toronto charges a Municipal Land Transfer Tax on top of the provincial Ontario LTT. London is in Middlesex County — buyers pay only the Ontario provincial LTT.
Ontario LTT is paid on closing day through your real estate lawyer. It is based on the purchase price registered with the province.
The minimum down payment in Canada is 5% for homes priced up to $500,000, and 5% on the first $500,000 plus 10% on the remainder for homes between $500,000 and $999,999. At London's median of $620,000, this works out to approximately $31,000.
While not legally required, a home inspection is strongly recommended for resale properties in London, particularly older homes. Inspections typically cost $500–$700 and can reveal costly issues before you close.
For more details on Ontario LTT, see our Ontario Land Transfer Tax guide.