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Our Industry
Facts
INDUSTRY FACTS
Economic Impact
Facts
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
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