Net Worth of Québec Families has Almost Doubled in 13 Years but Remains Lower than Canadian Average

Feb 2014 - According to the latest Statistics Canada Survey of Financial Security, the net worth of families in Québec, i.e. the total value of their assets minus total debts, amounted to $198,000 in 2012. Québec families saw their net worth almost double (+97.6 per cent) since 1999, the second highest growth among Canadian provinces during the period. However, the net assets of Québec families remained below the average of Canadian families which reached $243,800 in 2012.

Property was the largest asset (36.8 per cent) of Québec families: 57 per cent of them owned a primary residence with a median value of $235,000 in 2012. In addition, 17 per cent of Québec families owned property (other than their primary residence) with a median value of $120,000.

With respect to debt, only 32 per cent of Québec families held a mortgage on their primary residence. The median amount of these mortgages totaled $100,000.

Source: QFREB

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Marlene Ofter

Marlene Ofter

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