INDUSTRY FACTS

  • The home building, land development and professional renovation industry is one of the largest industries in the GTA
  • The industry is responsible for $30.2 billion in economic value, 7 per cent of Ontario’s Gross Domestic Product
  • One of the largest employers in the region, in 2015 there were 196,603 jobs in land development, home building and professional renovation in the GTA
    • Those jobs generated $11.4 billion in wages across the region
  • The industry contributed $15.4 billion in new-home construction to the economy
    • The industry has created 99,979 jobs in new-home construction and related fields, paying $5.8 billion in wages in 2015
  • The residential renovation industry contributed $14.8 billion to the economy
    • The industry has created 96,624 jobs in renovation and repair, paying $5.6 billion in wages
  • The industry is one of the most regulated, with three levels of government policies, plans and processes determining where and how development will occur
  • Each year the GTA grows by about 100,000 people and the industry must build between 35,000 and 40,000 new homes to accommodate that growth
  • In 2015, a total of 41,295 new homes (21,658 high-rise and 19,637low-rise) were sold (Altus Group figures)
  • There were a total of 44,092 housing starts in 2015 across the GTA