Ontario

London Office Market Report 2025 — Prices, Cap Rates & Trends

In the London office market, the median recorded sale price is $2,400,000, across 71 recorded transactions, between 2021-09-24 to 2025-12-12.

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$2.4M

Median sale price

Recorded transactions

-2.2%

YoY change in median

Price distribution

Where London office sale prices sat across 71 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for London office.

Recorded transaction volume by year

Year	Recorded transactions
2021	3
2022	11
2023	15
2024	21
2025	21

This market vs. Ontario overall

Metric	London	Ontario
Median sale price	$2,400,000	$2,194,500
25th percentile	$1,472,500	$1,325,000
75th percentile	$4,550,000	$4,750,000
Recorded transactions	71	29,749
Year-over-year change	-2.2%	-5.5%

Asset classes in London

Asset class	Median price	Transactions
Industrial	$2.7M	115
Land	$3.3M	94
Multifamily	$2.2M	198
Office	$2.4M	71
Other	$1.8M	188
Retail	$2.1M	139

Office across Ontario markets

Market	Median price	Transactions
Barrie	$2.5M	33
Belleville	$1.9M	13
Brantford	$2M	18
Greater Sudbury	$2M	20
Guelph	$2M	37
Hamilton	$2M	120
Kingston	$1.9M	25
Kitchener-Cambridge-Waterloo	$2.5M	118
London	$2.4M	71
Oshawa	$1.6M	44
Ottawa	$4.7M	197
Peterborough	$1.3M	13
St. Catharines-Niagara	$1.7M	42
Thunder Bay	$1.4M	23
Toronto	$2.5M	772
Windsor	$2M	50

Rental market context

The CMHC Rental Market Survey reports a 4.0% purpose-built rental vacancy rate for London (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	London, ON	$1.0M–$1.5M	Office
2025-10	St. Thomas, ON	$3.0M–$3.5M	Office
2025-10	London, ON	$3.5M–$4.0M	Office

Municipality, month and price band only.

Common questions

What is the median office sale price in London?

$2,400,000, across 71 recorded transactions in our dataset.

Are London office prices rising or falling?

The median recorded sale price changed -2.2% year over year in the most recent full comparison.

Methodology

This page draws on 71 recorded commercial transactions in London between 2021-09-24 and 2025-12-12, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.