Canadians’ Net Worth Climbs


    Canadians saw their net worth climb by nearly eight per cent last year as real estate and investment values soared, pushing average household wealth levels to a new high and offering a clear indication that many Canadians have put the recent recession far behind them, says Environics Analytics. It says the average household in Canada had total assets of $564,834 at the end of 2013 and average debt of $122,705, for average net worth of $442,130. Average wealth was up 7.7 per cent from the end of 2012 and 28 per cent from the end of 2007 before the recession began. Increasing real estate values are continuing to play a key role in wealth gains, but the analysis shows that gains on investments are becoming a more important component in wealth. Investments climbed by 10.4 per cent last year to $145,348 per household on average, while assets in other savings vehicles such as bank accounts or term deposits climbed by 2.2 per cent to $83,652 per household.