(Source: Vancouver Sun)

VANCOUVER — Metro Vancouver households were the wealthiest in Canada in 2007. But with falling house prices, the gap between Metro and other cities is getting smaller, according to a study released Tuesday by Pitney Bowes Business Insight.

Average household net worth of those living in the Vancouver census metropolitan area (CMA) was $592,851, followed by the Toronto CMA at $562,173.

The average household wealth of those living in Victoria, the only other B.C. city on the list, was $544,542, fourth highest after third-place Calgary.

If $592,851 sounds like more than what most of us are worth, that’s not surprising.

Read Fiona Anderson’s full article “Vancouver house prices make it top city for personal net worth” in The Vancouver Sun (March 25 2009).

On the same subject, check out: “Vancouver remains Canada’s wealthiest city” in the Globe and Mail (March 25 2009).

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