Average House Price ($)
Average house price is the total dollar sales of homes in Bridgewater divided by the total amount of sales.
Why This Matters
Housing is usually the largest component of a households wealth. When housing prices go up, homeowners net worth increases, and they tend to be willing to spend more and take on additional debt. This has a significant positive impact on the economy.
Conversely, when housing prices decrease, households find it more difficult to borrow (as their equity has decreased), and rather than spending, they tend to try to pay off their mortgages faster.
Housing prices also impact Bridgewater residents’ willingness and ability purchase a home or to live in certain areas of the city.
Measurement and Limitations
Average house price measures average residential detached housing prices listed in the Multiple Listing Service (MLS) system – this means that private sales may not be included. Rates are seasonally adjusted.
Source: Statistics Canada. 2016 Census.
Average House Price ($) in the Sustainable Development Goals
Click on the SDG to reveal more information
11. Make cities inclusive, safe, resilient and sustainable
Cities are hubs for ideas, commerce, culture, science, productivity, social development and much more. At their best, cities have enabled people to advance socially and economically.
However, many challenges exist to maintaining cities in a way that continues to create jobs and prosperity while not straining land and resources. Common urban challenges include congestion, lack of funds to provide basic services, a shortage of adequate housing and declining infrastructure.
The challenges cities face can be overcome in ways that allow them to continue to thrive and grow, while improving resource use and reducing pollution and poverty. The future we want includes cities of opportunities for all, with access to basic services, energy, housing, transportation and more.