Genworth Canada, one of the mortgage insurance providers, recently came out with results from last year's data.
Canada's average first time home buyer was born between 1980 and 1995. They spent an average of 321,982 and down payments of 8% of the purchase price. The average household income was $96,414 and the majority of them (72%) purchased a detached home.
Remember...this is an average of all of Canada.
Now, in British Columbia specifically, the average home price was $387,957 and down payment 8.6%. A little higher, average household income $103,026.
So what was bought in BC?
68% Detached homes
2% Semi attached