Canadians’ net worth up 8%
Average net worth per household stands at $442,130
GST holiday break: Is it good for Canada’s economy?
Economists share how the temporary tax cut and relief cheques may play into Canada’s growth picture.
TORONTO – Canadians’ fortunes appear to be in good shape, with their net worth up nearly eight per cent on higher real estate and investment values.
That’s according to data from Environics Analytics, which found that the average net worth per household last year grew by 7.7 per cent to $442,130.
Consumer debt was flat and real estate performed more predictably compared with recent years — increasing six per cent over 2012.
That suggests that although many Canadians still face higher-than-normal unemployment, they are bouncing back strongly from the 2008 economic downturn, Environics said.
Nationwide, the new data indicate that stock portfolios are growing, savings are on the rise and mortgage debt has ticked up only modestly.
The report includes 121 financial and investment statistics from a variety of sources, including the Bank of Canada and Statistics Canada.
READ: The stress-free guide to retiring rich »
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
MoneySense at the MoneyShow: ETFs & Investing Strategies
Here’s how to get your free ticket to attend the MoneyShow virtual expo.
Nvidia’s earnings: Blackwell AI chips play into (another) stock price rise
Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips.
Bitcoin approaches USD$100,000 as post-election rally continues
The world’s biggest cryptocurrency topped USD$98,000 on Nov. 21. As it inches ever closer to six figures, investors wonder:...
Canada’s inflation rate increased to 2% in October
Canada’s inflation rate rose to 2% last month, up from 1.6% in September, but a December interest-rate cut is...
Inflation is on target in Canada, so why is food (and other stuff) still so expensive?
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
Deal or no deal: What to know before shopping Black Friday and Cyber Monday sales
If you’re one of the many Canadians looking for Black Friday and Cyber Monday discounts, here’s how to know...
Where are rent prices headed in Canada?
A new Desjardins report predicts rent inflation will slow in the next few years.
Couldn’t get Eras Tour tickets? Industry practices, lack of competition could be to blame
High demand has made it challenging to get tickets for Taylor Swift and other big artists in Canada, and...