Canadian household wealth hits record $19 trillion as net worth rises 2.9% in Q2

Canadian household net worth rose 2.9 per cent in the second quarter of 2026, exceeding $19 trillion for the first time, according to Statistics Canada data released Friday. The gain reflects stronger economic growth, improved household finances, and rising asset valuations across the country.

Net worth per capita expanded by $13,785 in Q2, bringing the national average to $462,336. Real GDP increased 0.8 per cent in the quarter, a jump from 0.1 per cent growth in Q1, driven partly by higher exports and a rebound in vehicle production. Household disposable income outpaced spending, and the household saving rate stood at 3.7 per cent.

Household liabilities rose only 1.3 per cent in Q2, the slowest increase in recent quarters. Residential mortgage debt represented almost three-quarters of household debt. The debt-to-asset ratio fell to 14.8 per cent of total household assets — the lowest point since Q1 2022 and a marked improvement from a debt service ratio peak of 15.16 per cent in Q1 2023.

Wealth remains highly concentrated: the highest wealth quintile holds 69.0 per cent of all financial assets and 49.7 per cent of non-financial assets. The ratio of financial to non-financial assets stood at $1.24 per dollar, the highest level since 2000, reflecting the outsize gains in equity and bond valuations.

American equity markets bolstered household wealth in Q2. International geopolitical events drove commodity price rallies, chiefly crude oil, though oil prices dropped sharply in June, causing equity valuations of energy companies to decline by quarter's end. Canada's net foreign asset position grew at a record pace in Q2, with over two-thirds of the increase coming from the United States — driven partly by unprecedented foreign acquisition of Canadian government bonds. The Bank of Canada held its policy rate steady on both decision dates in Q2, citing persistent macroeconomic uncertainty.