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

Province Investing Against Invasive Species

The $2-million will help the Niagara region
Niagara Driver Charged with Drug Impairment

OPP say this happened on Highway 17, when a car was seen weaving all over the road
Welland Man Arrested for Child Porn

Police say they noticed child sexual abuse material shared on a social media page early this month
28 More Doctors Hired in Niagara

The region and Niagara Health coordinating new partnership to find even more doctors
Killed Police Officers Honoured by NRP

Police Chief praised Niagara members for standing at attention in 'pounding rain'
Niagara Wineries Shuttle Service Possible

The CUTRIC hopes the province supports helping people move among wineries
Canal Days Vendors Warned of Scams

The City of Port Colborne says criminals are sending fraud emails for payment
Niagara Falls Exploring Hub to Help Homeless

Former CAO Ken Todd has been meeting with community groups