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

Hundreds Expected for Rally at Pen Centre

Organizers say this is against what they say are more cuts by Ford government
Transformer Station Under Construction

MPP Sam Oosterhoff says Niagara Peninsula Energy is spending millions for Niagara West
MPPs Work to Stop Teen Vaping

Wayne Gates says parents in Niagara are frustrated with products aimed at children
Name of Murder Victim Revealed

Police were called earlier this month to a house in St. Catharines, found dead woman and injured man
NRP Arrest Man for Human Trafficking

Update: 2nd suspect arrested in relation to a woman being trafficked in the Niagara Region, a forced marriage charge included
Man Arrested After Posting Stolen Loot

Police were looking for a stolen Toyota and golf clubs from Grimsby
Niagara Parks Strike Potentially Avoided

Workers vote tomorrow on whether to accept deal or not
Action Wanted on GM Plant Clean Up

St. Catharines MPP asking the government to use the Environmental Protection Act