New data demonstrates the economic impacts of residential construction across the province

Each year, Canadian Home Builders' Association National distributes economic impact data for the residential construction industry at the national, provincial and community levels.

The fact sheets reflect estimated economic impacts of residential activity for the past year based on Statistics Canada and CMHC data.

They include investment, direct and indirect employment, and wages paid. The scope of construction activities addressed includes new dwellings of all types, including both primary residences and cottages; renovation, conversion and repair of existing dwellings; and conversion of non-residential buildings to residential use. Other expenditures relating to new residential construction such as land transfer taxes and mortgage insurance fees are also included in these estimates. Note, however, that the estimates do not include land-value increases resulting from new residential development, as these are not collected by Statistics Canada.

To view the reports for several cities across British Columbia and Canada, visit www.chba.ca/impacts. 

 

     

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