Information and Statistics

Economic Impacts of the Housing Industry

Each year, CHBA produces factsheets that report on the significant economic impacts of the residential construction industry across Canada at the national, provincial and community levels. The new home construction home and renovation industries are crucial to the Canadian economy at large and in every single community, creating jobs at the local level that help our communities thrive. The fact sheets reflect estimated economic impacts of residential activity for the past year based on Statistics Canada and Canada Mortgage and Housing Corporation (CMHC) data.  

This year, CHBA is also pleased to present our new publication: Residential Construction in Canada – Economic Performance Review 2019 with 2020 Insights. This report provides a holistic overview of the housing market and the significant economic impacts of the residential construction industry in Canada. The report leverages published government data from a variety of sources, with more analysis, explanations, and graphs. 

The report also includes our annual Economic Impact Fact Sheets which highlight the importance of the residential construction industry within Canada’s economy and in each community across the country. For your convenience, you can find each fact sheet linked independently below.  

Key findings include:

  • In 2019, there were a total of 1.3 million on-site and off-site jobs created in new home construction, renovation, and repair – which makes the sector one of Canada’s largest employers. 
  • 61% of the total number of jobs were concentrated in the renovation and repair while 39% can be attributed to the new home construction. This work resulted in $83.1 billion in wages that show up in other consumer spending across the entire national economy and help increase economic activity.  
  • The total value of wages increased by 3 per cent.  
  • The residential construction industry is the largest single wealth-builder for most families and provides for $142.6 billion in economic investment. The value of economic investment increased by $2.5 billion from 2018 to $142.6 billion. 

 

Contact Information
For questions or comments on the Economic Impact Fact Sheets or the Economic Performance Review report, please contact Viktoria Halim, CHBA Economist at viktoria.halim@chba.ca.

Canadian Jobs Chart
Investment and Wages Chart

British Columbia - New Construction Impacts, Renovation ImpactsTotal Impacts

Ontario - New Construction Impacts, Renovation ImpactsTotal Impacts