Vancouver’s pricey real estate has contributed to the city’s residents claiming the highest net worth compared with other Canadian cities, according to Environics Analytics.
The average net worth of Vancouver households was $662,600, followed by $620,607 for Calgary and 617,846 for Toronto.
“What distinguishes these three cities from others in Canada is the high value of their real estate,” said the data analytics company. “The average household in these three cities has about a half-million dollars’ worth of real-estate holdings.”
B.C. also had the highest household net worth among Canadian provinces, at $550,554 per household. Alberta’s average ($484,613) was next highest, and Ontario ($464,693) was third.
Nationally, the average net worth of Canadian households was $400,151, as of December 2012. This represents a 5.8% increase since December 2011. Canadians also continue to have a higher net worth than Americans, by $19,066, although Environics notes that gap has narrowed.
Environics’s data tracks the combined value of liquid and real estate assets, minus debt.
