According to StatsCan's Survey of Financial Security, the average net worth of Canadian families of two or more people was $243,800 in 2012, an increase of 44.5 per cent from 2005, and nearly 80 per cent more than the median of $137,000 observed in 1999.
The report also showed that overall debt across the nation grew at a more rapid pace than assets. However, given that assets are generally much larger than debt, net worth still increased.
The value of principal residences has experienced significant growth between 2005 and 2015, jumping 52 per cent as the average Canadian home price increased 45 per cent over the same period. Home ownership became more widespread across the nation during the time period.
Additionally, the percentage of families who list their home as an asset has shown a steady increase, rising from 59.6 per cent in 1999 to 62.5 per cent in 2012. The average value of the homes was $300,000, which represented a 46.6 per cent increase from 2005 and 83 per cent from 1999.
The report also showed that overall debt across the nation grew at a more rapid pace than assets. However, given that assets are generally much larger than debt, net worth still increased.
The value of principal residences has experienced significant growth between 2005 and 2015, jumping 52 per cent as the average Canadian home price increased 45 per cent over the same period. Home ownership became more widespread across the nation during the time period.
Additionally, the percentage of families who list their home as an asset has shown a steady increase, rising from 59.6 per cent in 1999 to 62.5 per cent in 2012. The average value of the homes was $300,000, which represented a 46.6 per cent increase from 2005 and 83 per cent from 1999.
