Upsizing in London, Ontario: A 2026 Buyer's Guide

Upsizing in London, Ontario usually starts with the same feeling: you love your street, but you've run out of room for the life you're actually living. As a REALTOR® with Century 21, First Canadian who works with move-up buyers across London and Middlesex County, I'm seeing more of those conversations this fall than I have in a while — and current market conditions actually work in an upsizer's favour. This guide walks through what "upsizing" really means here, what the numbers say about timing, where growing families are finding more space, and how to budget for the move without getting caught carrying two homes at once.

Key Takeaways

• London's resale market posted 561 sales in September 2026, up 5.3% from a year earlier, with a sales-to-new-listings ratio of 34.7% — inside the range LSTAR and CREA describe as a buyers' market, which benefits move-up purchasers on the buying side of their transaction.
• The average home sale price in London was $611,509 in September 2026, up from $590,550 in August, according to the London and St. Thomas Association of REALTORS® (LSTAR).
• New home construction in the London CMA is well ahead of its historical pace — 2,469 starts from January through June 2026, 58% above the ten-year benchmark for that period — so upsizers comparing resale to new construction have more to look at than usual.
• The Bank of Canada's policy interest rate has held at 2.25% since its September 2, 2026 announcement, giving move-up buyers a steadier rate environment to plan a purchase around.
• Selling your current home and buying your next one is a timing problem as much as a money problem — bridge financing, conditional offers, and rent-back arrangements are the usual tools, and your mortgage professional should be looped in before you list.

What "Upsizing" Actually Looks Like in London's Market

Upsizing isn't one thing. For some of my clients it's a second bedroom becoming non-negotiable once a toddler stops sharing a crib-sized room. For others it's a home office that's taken over a dining room, or a basement that floods every spring and just needs to stop being load-bearing to daily life. In London, the typical upsizing move I see is a buyer going from a starter townhome or smaller detached home in areas like Pond Mills, Glen Cairn, or White Oaks into a larger detached home with more bedrooms and a bigger lot, often in an established neighbourhood on the city's north or southwest side, or into newer construction in a growth corridor like Riverbend.

The practical difference between upsizing and a first purchase is that you're usually transacting twice — selling and buying — in the same window, which changes how you shop, how you negotiate, and how you finance. That's the part of the process where I spend most of my time with upsizing clients.

Is Now a Good Time to Upsize in London, Ontario?

September 2026 was a stronger month than August for London's resale market: 561 homes sold, up from 526 in August and up 5.3% from September 2025, according to the London and St. Thomas Association of REALTORS®' most recent statistical release. The average sale price rose to $611,509, from $590,550 the month before. Inventory sat at 5.9 months of supply, and the sales-to-new-listings ratio was 34.7% — CREA generally considers 45% to 65% a balanced market, so a reading below that range signals conditions tilted toward buyers. LSTAR's 2026 Chair, Robin Tiller, described the market as continuing to show signs of a buyers' market.

For an upsizer, that combination matters more than it might for a first-time buyer. You're buying in the same conditions you're selling in, so a buyers'-market tilt on the purchase side is a real advantage — more inventory to choose from, less competition on offer day, and more room to negotiate repairs or closing dates on the home you're moving into. The trade-off is that your own home may take a little longer to sell or may not command the aggressive multiple-offer pricing we saw in past years, which is exactly why timing the two transactions together matters so much (more on that below).

On the financing side, the Bank of Canada has held its policy interest rate at 2.25% since its September 2, 2026 announcement. A steady rate doesn't tell you what a lender will offer you specifically — that's a conversation for a mortgage professional — but it does mean upsizers aren't trying to plan a move-up purchase against a rate that's shifting underneath them month to month.

Where Growing Families Are Finding More Space

London's established neighbourhoods and its newer growth areas offer different versions of "more room," and I walk upsizing clients through both.

Established neighbourhoods with larger lots and bigger floor plans. Pockets of North London, Southwest London, and the city's older suburban rings tend to have housing stock built with larger lot sizes, finished basements, and four-bedroom layouts that are harder to find in newer, tighter-lot subdivisions. These areas also tend to have mature trees, established parks, and settled street infrastructure — the kind of neighbourhood character that only shows up once a community has had a few decades to grow in.

New construction in growth corridors. CMHC data released through LSTAR shows London CMA new home starts running well ahead of historical norms — 2,469 starts from January through June 2026 against a ten-year benchmark of 1,558, with activity concentrated in the City of London itself (2,200 starts against a benchmark of 1,165). June alone saw 373 starts, much of it concentrated in West London's Riverbend area. For upsizers who want a larger floor plan without the renovation work an older home might need, new construction in these growth corridors is worth a look — though as always, I'd rather walk a specific lot and builder with you than speak in generalities about any one project.

Middlesex County's small towns and villages. Some of my upsizing clients aren't just trading up in square footage — they're trading city density for a bigger lot in Ilderton, Komoka-Kilworth, Dorchester, or one of the other Middlesex County communities, often while keeping a London-length commute. That trade works well for buyers who've decided space matters more than walkability to downtown.

None of this is about who "belongs" in a given neighbourhood — it's about what the housing stock itself offers: lot size, floor plan, finished square footage, and proximity to the amenities that matter to your household, whatever that household looks like.

Budgeting for the Move-Up

Upsizing comes with cost layers that a first purchase doesn't, and I'd rather clients see them early than discover them at closing.

Land transfer tax applies again. Ontario's land transfer tax is charged on the purchase price of your new home, not reduced by the fact that you've already paid it once on your current property, and the City of London does not levy an additional municipal land transfer tax on top of the provincial one (unlike Toronto). The exact amount depends on your purchase price and bracket, so I'd point you to your lawyer or the province's own rate schedule rather than quote a number that won't fit every budget.

Carrying two homes, even briefly, is the real risk. If your sale and purchase don't close on the same day — and they often don't — you may need bridge financing to cover the gap, or you may negotiate a rent-back period with your buyer so you're not paying two mortgages (or a mortgage and a bridge loan) at once. Your mortgage professional, not your real estate agent, is the right person to structure this, but I'll flag the need early in our planning conversation so it's not a surprise in week two of a deal.

Selling costs come out of your upsizing budget. Commission, legal fees, any pre-listing repairs or staging, and moving costs all reduce what you're netting from your current home before it goes toward your next one. I build a realistic net-proceeds estimate with every upsizing client before we put a home on the market, so the number guiding your house hunt is the one you'll actually have, not the list price.

Property taxes reset to the new assessment. Your new home's property tax bill is based on its own assessed value through the Municipal Property Assessment Corporation (MPAC), not a continuation of what you were paying before — larger homes and larger lots generally carry a higher assessment. Budget for that change rather than assuming your tax line stays flat.

Timing Your Sale and Purchase Together

The single biggest stress point in an upsizing move is sequencing, and there's no universally "right" order — it depends on your risk tolerance and your financing.

Buying first, with a financing condition tied to the sale of your current home, protects you from being without a place to live but can make your offer less competitive in a multiple-offer scenario. Selling first gives you certainty on your net proceeds and a stronger, unconditional offer when you do buy, but it can mean a gap — bridged with temporary financing, a rent-back, or a short-term rental — between the two closings. Listing both at once, timed to close back-to-back, is the cleanest outcome but requires the most coordination and a bit of luck on how quickly each side moves.

I walk every upsizing client through which of these fits their situation before we list anything, because the sequencing decision shapes everything else — your offer strategy, your moving timeline, and how much cash cushion you need on hand.

Frequently Asked Questions About Upsizing in London, Ontario

Is it a good time to upsize in London right now?
Current conditions — a 34.7% sales-to-new-listings ratio and 5.9 months of inventory as of September 2026 — favour buyers, which works in an upsizer's favour on the purchase side. The trade-off is your own home may take longer to sell, so timing both transactions together matters.

Should I sell my current home before buying my next one?
It depends on your risk tolerance. Selling first gives certainty on your proceeds and a stronger offer when buying; buying first with a sale condition protects your housing continuity but can weaken your offer in a competitive bid. A mortgage professional can help you weigh bridge financing against either path.

Do I pay land transfer tax again when I upsize?
Yes — Ontario's land transfer tax applies to your new purchase price regardless of having paid it on a previous home. London doesn't add a municipal land transfer tax on top of the provincial one. Confirm your exact amount with your lawyer.

Is new construction or an established neighbourhood better for upsizing?
Neither is universally better — new construction in growth corridors like Riverbend offers larger floor plans without renovation work, while established neighbourhoods often have bigger lots, mature trees, and finished basements already in place. It comes down to what matters more to your household: a move-in-ready larger floor plan or settled neighbourhood character.

How much more space can I actually afford if I upsize in London?
That depends on your current home's net proceeds after commission, legal fees, and moving costs, plus your updated financing. I build a net-proceeds estimate with every upsizing client before we shop, so your search is based on real numbers rather than a list price.

Ready to Make the Move Up?

Upsizing in London, Ontario right now means shopping in a market that's leaning toward buyers while financing conditions hold steady — a combination that doesn't come around every year. Whether you're eyeing an established neighbourhood with a bigger lot, new construction in a growth corridor like Riverbend, or a bigger property out in Middlesex County, the real work is in sequencing your sale and purchase so you're never stuck carrying two homes or settling for less than your current home is worth.

If you're thinking about upsizing anywhere across London or Middlesex County, I'd love to help you map out the numbers and the timeline. Call or text me, Gloria Roman, at (647) 883-7135, or schedule a free consultation at 519propertyfinder.com — let's figure out what your next move actually looks like.