Townhouse Down Payment in Niagara Has Doubled Since 2018: Study

Thursday, 19 October 2023 16:36

By Linda Morgan

Average payment now sits at over $36,000

The average down payment needed to buy a townhouse in Niagara has doubled over the last five years.

That's according to a study from real estate brokerage Zoocasa.

The study found down payments are currently around $36,610, which is over $18,000 higher than in 2018.

Since then, the price of the average townhouse in the area has increased from $365,900 to about $616,000.

The study found that the Greater Vancouver area was the priciest market for townhouses in the country.

Over the last five years, down payments there have quadrupled from $56,950 to $219,800, and the average price of a townhouse is over $1 million.

Photo Credit: Zoocasa

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