Canadian households are getting wealthier, according to Statistics Canada figures released June 19.
Household net worth increased 2.5% in the first quarter of 2014, led by a 3.2% gain in the value of shares and other equities such as mutual funds, reflecting the continued strength in domestic stock markets during the quarter.
The increase in household net worth was supported by a 2% gain in the value of household real estate.
On a per-capita basis, average household net worth rose to $222,600 in the first quarter.
At the end of the first quarter, total Canadian mortgage debt stood at over $1.1 trillion, up 0.6% over the previous quarter. This was the lowest rate of growth since early 2009.
Consumer credit debt edged down 0.3% from the fourth quarter to $507 billion by quarter end.
Statistics Canada said that consumer credit debt as a proportion of total outstanding household debt has generally been declining since the financial crisis.
For the full report, which also includes government and financial institution debt, click here.
