Here are the provinces with the highest and lowest family net worth

The median net worth of Canadian families was $295,100 in 2016, new data from Statistics Canada shows. That’s up nearly 15 per cent since 2012 and more than twice what it was in 1999.Net worth is the value of assets minus outstanding debt. The survey measured the net worth of both families living under the same roof and individuals living alone or with others with whom they are not related.Story continues belowREAD MORE: Are you earning a middle-class income? Here’s what it takes in Canada, based on where you liveRising housing prices inflated both Canadians’ wealth and their debt, the data shows. But while the value of all assets owned by Canadians increased by 21 per cent between 2012 and 2016, their total debt was up by 24 per cent.The median home value was $349,000 last year, up over 10 per cent since 2012. The median mortgage debt, meanwhile, has grown twice as fast, growing 20 per cent since 2012 to $190,000.READ MORE: Wealthy baby boomers may be keeping Canada unequal by helping their kids buy homes: reportUnsurprisingly, the two provinces where housing prices have been shooting through the roof, British Columbia and Ontario, have the highest median family net worth, at $429,400 and $365,700 respectively. At the other end of the spectrum is New Brunswick, where the median net worth fell short of $160,000.But it was Manitoba where average families saw the strongest growth in net asset values. The median net worth has leapt by over 35 per cent since 2012, from $237,200 to $320,800.Here’s the full breakdown: WATCH: Middle class incomes in cities across the country

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