• Vernon's Homepage
  • Kelowna's Homepage
30359
30068

Business  

Median net worth hit $243,800 in 2012

Statistics Canada says the median net worth of Canadian family units was $243,800 in 2012, up 44.5 per cent from 2005.

The agency says the median net worth was highest for families where the person with the highest income was 55 to 64 years old in 2012. For that group it came in at $533,600.

British Columbia reported the highest family median net worth of at $344,000, more than double the median of those in Newfoundland and Labrador and Prince Edward Island which came in at $167,900 and $150,300 respectively.

The total value of assets held by Canadian families in 2012 was $9.4 trillion with their home making up one-third of the total value of assets.

Meanwhile, Canadians owed $1.4 trillion including $1.0 trillion in mortgages.

Lines of credit amounted to $144.9 billion, up from $77.5 billion in 2005.

COMMENTS WELCOME

Comments are pre-moderated to ensure they meet our guidelines. Approval times will vary. Keep it civil, and stay on topic. If you see an inappropriate comment, please use the ‘flag’ feature. Comments are the opinions of the comment writer, not of Castanet. Comments remain open for one day after a story is published and are closed on weekends. Visit Castanet’s Forums to start or join a discussion about this story.



More Business News

28224
Recent Trending
30371
29143
30081
Member of the RTNDA
30399
Press Room
30214
27125