Five Metro Vancouver areas make list of the richest neighbourhoods in Canada

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VANCOUVER (NEWS1130) – Want to know where the truly rich live? Head into Kerrisdale and Shaughnessy in Vancouver!

Canadian Business magazine has come out with its list of the 25 richest neighbourhoods in the country. Shaughnessey Heights comes in at Number 4 on the list, with an average household net worth of $12 million.

Only five local areas in total are on this list. The others are Shaughnessy Centre, two parts of Kerrisdale, and West Bay & Sandy Cove in West Vancouver.

Graham F Scott, managing editor of Canadian Business, tells us they looked at the wealthiest areas in each province.

“There would definitely be other neighbourhoods in Vancouver that would probably come in well ahead of Calgary or Winnipeg. This is merely a list of the ‘exceptionally rich.’ There’s no room for ‘merely rich,'” he explains.

The top three are all in Toronto.

Scott notes wealthy areas are usually old neighbourhoods.

“Buying a house means making a long-term investment and if you have one rich neighbour, it attracts another rich neighbour… it becomes a virtuous circle in which you’ve got extremely high net-worth individuals going to the same area together.”

The swankiest neighbourhood in Canada is the Bridal Path in Toronto, with an average household net worth of a cool $22 million.

Click here to see the full list of Canada’s richest neighbourhoods.

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