The Real Estate success story of the Canadian Province of Quebec
Check out the full report of CMHC here.
Quebec households’ net worth grew by 81.8% from 1999 to 2016. Principal residences were a big part of this increase.
During the period, the house prices grew significantly. The homeownership rate also grew. These 2 factors caused the share of Quebec households’ total assets accounted for by principal residences to grow, too.
This net worth growth was somewhat lesser than average Canadian net-worth growth, because, the homeownership rate and growth in house prices were relatively lower in Quebec.