Confluence City: Tech Capital of Canada
Discover London Canada's Real Estate
Bearing the same name as one of the foremost global cities, Canada's confluence city holds its distinct glamour. Located in southwestern Ontario along the Quebec-city-Windsor Corridor, London is the county seat of Middlesex County and is seated at the confluence of the Thames River, which is approximately 200 kilometers from the two cities that lay claim to the river, Detroit and Toronto. With a population of over 400,000, London is the 11th largest city in Canada.
Culture, History, and Business
Being one of the largest Canadian cities, London has quite a busy environment jostling with activities from sunrise to sunset. The city is one of the regional centers in the country known for its high educational standings, qualitative healthcare, and businesses.
The city is often confused with the United Kingdom capital and although it varies greatly from London in Britain, the confluence city would have been capital. The city is calm and relaxed in the winter with a lot of snowfall witnessed at the time, but summers are hot, warm, and humid.
London is a home to so many art establishments that ranks among the most visited in the country. The Forest City Gallery was established in 1973 by Jack Chambers and Greg Curnoe as a preservation spot for the city’s precious antiques and rich art history. The city’s central Art Gallery Museum London, in the same way, was designed by famous Canadian architect Raymond Moriyama and was commissioned in 1980 at the forks of Thames River. The edifice is one of the modern buildings that have come to define the city of London’s architectural scene.
There is also the Museum of Ontario Archaeology, an establishment owned and run by Western University, a prehistoric site or village where Canada’s archaeological research is rooted. Apart from the two foremost art galleries, Forest City Gallery and Museum London, there are other smaller art centers like the DNA Artspace and Michael Gibson Gallery, which propel London to the frontlines of Canada’s art scene.
Real Estate Appeal
Being the largest city in Ontario, it’s only typical that it doubles as its home of manufacturing, and this is one of the significant contributors to the economy of the city of London. Besides it, you have Medical Research and Information technology. A large percentage of science-related research is conducted by the University of Ontario, which gets over 350 million dollars in research grants. The institution contributes a massive 1.5 billion Canadian dollars into the city’s economy yearly.
Despite the massive part that academic research and institutions play in the London economy, the largest employer of labor in the city of London is the London Health Sciences Centre, which employs over 10,000 persons in the city comprising both residents and non-residents.
When the manufacturing industry dropped most of its employees during the 2009 global economic crisis, technology stepped up and became the mainstay of the London economy. Now over a decade in London have over 300 tech firms that employ about three percent of the city’s workforce.
The companies used most of the abandoned factories as start-up points and have turned into global tech forces today. For Instance, Arcane Company has a revenue of over 20 million Canadian dollars, Big Viking Games; a mobile game development company has an annual income that runs more than 10 million Canadian dollars.
London has an amazing growth rate when it comes to the demand for properties, and that says a good thing about real estate investment in the city. Homeowners are mainly lucky as the properties in supply are homes fit for families but might be a little bit expensive for the single working-class or students. Over the past year, homes have gone up a whopping 12.2% as opposed to the neighboring city Toronto, which has painted a flat rate within the same period.
Average Median home prices are much more affordable in this part of the country when compared to other regions with similar development index. This has brought an increase in willing investors for the London real estate market and is attracting more realtors who want to enjoy its enormous benefits. A median home price in London, on the average, is $405, 956, while the neighboring cities like Vancouver starts at $1,011,200.
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