Vancouver was Canada's wealthiest big city in 2011 while Calgary lagged behind, due in part to fluctuating real estate markets, according to a new study on Canada's net worth.
An average Vancouver household had a net worth around $612,000, compared to $541,000 for Calgary and $542,000 for Toronto. Net worth is defined as the sum of a household's assets, such as real estate and savings, minus their debts, like mortgages and credit cards.
Canada's net worth stagnated overall, dropping 0.04 per cent. Meanwhile, the average Canadian household carried debt levels nearly double their disposable income, owing just under $116,000 on mortgages and other consumer debts.
The figures were released in WealthScapes 2012, a report by Environics Analytics, which combined 80 financial and investment statistics from the Bank of Canada, Statscan and other sources down to a neighbourhood level for Canada's Census Metropolitan Areas.
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Below are breakdowns for five major cities in Canada, outlining how each city's net worth fared compared to 2011. Green areas indicate the neighbourhood's net value has increased while orange and red values indicate the net value has decreased.
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