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

More from Local News

Residents Not Happy Over Stop Sign

They say sign for Canby and Hamilton won't slow traffic, but cause traffic lineups
Transit and Poverty Reduction Discuss Transportation

Meeting also touched on ways to improve access to technology to help people
Man Charged with Threatening Bar Staff

Police say it happened in Port Colborne, he's also facing weapon, impaired and failing to comply charges
Woman Dies in St. Catharines Collision

NRP called to Third Street Louth and St. Paul
NRP Officers Do Remarkable Work: Chief

Police board also heard 'troubling' number of domestic violence charges
Vehicle Break in Suspect Caught

Police say the crimes were happening in Fort Erie, a 19-year old arrested
Catholic School Planned for Niagara Falls

Provincial government spending $14-million
Toronto Secures WNBA Franchise

The Toronto WNBA franchise will begin play in 2026.