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He declined comment on why he paid – some might suggest overpaid – $7.25 million for a property assessed for tax purposes at $1.8 million.

“We’re excited to be in London for the remainder of our lives,” Perry said.

“London is home to a lot of guys that have gone through the Knights (London’s Ontario Hockey League team) organization. It’s a great city, a great area, we’re excited to be here.”

There have been no recent sales in the area to compare to this purchase, but in 2014 several homes sold in that neighbourhood in the $800,000-$900,000 range and one sold for $1.8 million, says Mark McManus, partner with Valco Consulting, a real estate appraiser and consulting firm.

“It’s a big number, it’s a lot of money,” McManus said. “I have never seen a sale like this.”

Perry bought the home March 1 from Brian and Stacey Ublansky, who own Echo Valley Golf Course on Brigham Road. Ublansky built the home, having paid $330,000 in 2008 for the lot. He declined comment on the sale.

Perry sold his former home on Chantry Place in December for $2.91 million. The average London home price is slightly more than $400,000.

Paying that much for a home will likely not affect the area’s resale market because most will see it as an unusual buy, said Meg Hetherington, real estate agent with Keller Williams in London.

“It won’t change the market. What dictates the value is what the purchaser is willing to pay. This purchase is an anomaly,” she said. “It’s in a great area, but it won’t push prices up.”