News

Today, the Federal Government released “Canada’s Housing Plan”, an ambitious action plan aimed at addressing Canada’s housing crisis and making housing more affordable. This extensive plan outlines a multi-pronged approach and provides an extensive list of measures geared towards increasing housing supply, helping Canadians rent or buy a home, construction innovation, and protecting consumers.

LSTAR's MLS® System recorded 636 homes sold last month, 11.3% less than in March 2023. The number of newly listed properties surged from 1,024 in February to 1,233 in March, marking an 11.8% increase over a year ago. Overall, housing supply increased slightly in our region - from 2.7 months of inventory in February to 2.9 months in March.

LSTAR's annual Slo-Pitch Tournament is coming up on Friday, June 14, 2024, at Slo-Pitch City in Dorchester. All proceeds from this tournament will be donated to Ark Aid Street Mission in London, and Hospice of Elgin in St. Thomas. This year, we have a goal of raising over $20,000 for our two beneficiaries. To help us reach this goal, we would like to invite all businesses from London and St. Thomas to come on board as sponsors.

A majority of residents across Western Ontario believe the region has good access to daily activities and is an excellent environment for raising a family, but at the same time express concerns over housing and economic stability, affirming the challenges of inflation, cost of living, and affordability, according to a new report by Abacus Data.

594 homes exchanged hands last month via LSTAR's MLS® System, marking a 33.2% increase in sales activity over February 2023. The number of newly listed properties rose from 873 in January to 1,024 in February, showing a 31.8% increase over a year ago. Housing supply plummeted from 3.3 months of inventory in January to 2.7 months in February.

LSTAR is thrilled to announce the recipients of the 2023 Don Smith Commercial Building Awards. Recipients were honoured on February 22, 2024, at the Best Western Plus Lamplighter Inn and Conference Centre. Main categories include Commercial, Industrial, Multi-family and Institutional. A judging panel evaluates the projects, based on multiple criteria.

439 residential transactions were recorded last month via LSTAR's MLS® System, 28.7% more than in January 2023. The number of newly listed properties climbed from 386 in December 2023 to 873 in January 2024. Housing supply dropped from 4.4 months of inventory in December to only 3.3 months in January.

Please join LSTAR on Thursday, February 22nd for a special evening honouring excellence in commercial buildings. The 2023 Don Smith Commercial Building Awards shines a spotlight on the best commercial, industrial, legacy, multi-family, and community buildings across the LSTAR region. Tickets are available by emailing Claire Dawson via Claire [at] LSTAR.ca (Claire[at]LSTAR[dot]ca) no later than Friday, February 9th, at 4:30 pm.

LSTAR's Board of Directors is pleased to announce that Kathy Amess will serve as its Chair in 2024. Based in London, Amess is a Broker of Record/Owner of Blue Forest Realty Inc. She became a REALTOR® in 1993 and joined the LSTAR Board of Directors in 2020.