Average Canadian net worth up 73% in 13 years

The average Canadian net worth rose 73% between 1999 and 2012 after adjusting for inflation, according to Statistics Canada.

The federal agency says average Canadian net worth increased to $554,100 from $319,800 over this period,with higher-income families outpacing the average.

The top 20% of families by income saw their average net worth rise 80% between 1999 and 2012, climbing from $721,900 to $1,300,100.

However, the bottom 20% of families by income saw their average net worth rise by 38% from $79,500 to $109,300 over the same period.

The total net worth of Canadian families increased by $4.17 trillion due to a $4.92 trillion increase in assets, offset by a $750 billion increase in debt.

Half of the increase in assets was due to real estate, while the other half was due to other types of assets, including employer pension plans.