By JOHN MINER, The London Free Press
Demand for London and St. Thomas real estate is forecast to remain stable while prices move up in 2012, according to a national housing market report released Tuesday by Re/Max real estate.
The real estate company predicts 8,100 residential units will be sold in London and St. Thomas, the same as in 2011 and 2010.
For London, Re/Max is forecasting a continued growth in condominium sales in 2012 with condominiums accounting for about one in five sales in the city.
"The product is gaining greater popularity with aging boomers, entry-level buyers and young professionals. While many are attracted to new projects on the periphery, an increasing number will be drawn to the rejuvenated downtown core," the report said.
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