Residential Property Values

Detailed information for 2014-2015

Status:

Active

Frequency:

Annual

Record number:

5213

The Property Values Program produces residential property value estimates by province and territory, as well as by census metropolitan areas (CMAs). This data series represents residential property market values by reference year. This includes all taxable and exempt properties.

Data release - May 9, 2018

Description

The Property Values Program produces residential property value estimates by province and territory, as well as by census metropolitan areas (CMAs). This data series represent residential property market values by reference year. This includes all taxable and exempt properties.

This product refers to annual aggregated property values estimated at the provincial, territorial, and CMA level. The current estimates are limited to residential property values which are adjusted to reflect common price base and volume state dates, per reference year, in order to enhance comparability between jurisdictions.

- A price base date is the reference date for the valuation of all properties using a market value standard.

- A volume state date is the reference date for the physical state and the stock of all properties to be valued.

The residential property values estimates reflect a base date of July 1st and a state date of December 31st of the reference year, where all residential properties are reflected in the stock.

The methodology used in this release differs from that used in the release on "Residential and non-residential property assessment values" (see record 5191). The values in this release represent taxable and exempt residential property values, expressed according to the reference year. However, for the purpose of Finance Canada's fiscal arrangements, values in record 5191 represent taxable residential property values only, expressed according to their taxation year, which corresponds to the year following the value's reference year.

Subjects

  • Construction
  • Families, households and housing
  • Housing and dwelling characteristics
  • Residential construction

Data sources and methodology

Target population

All residential properties in Canada, including all land and dwellings (or structures) classified for residential use. Examples of residential properties are single-family, mobile, cottage, semi-detached, row house and apartment building.

Instrument design

This methodology type does not apply to this statistical program.

Sampling

No sampling is done for this statistical program.

Data sources

Data are extracted from administrative files.

The main source of data is assessment values collected from provincial/territorial/municipal assessment entities and are based on assessment rolls. Respondents provide the data on a regular basis either through formal agreements or responding per request. Data are generally reported at the municipality level.

The municipalities covered in the source data are assigned to census sub-divisions (CSD) which are updated annually by Statistics Canada's Standard Geographical Classification system. Some CSD types are out of scope, such as Indian Reserves. Values for such CSDs are not part of the estimates.

The source data files contain the assessment values by type of property, taxation status, and other related variables. The availability of the information may vary by jurisdiction.

The program seeks to obtain and use the most up-to-date assessment data as late in the production cycle as feasible. This is done to minimize the amount of adjustments that need to be applied to conform to the target dates for price and volume.

Auxiliary sources of data include sales of resale homes from the Canadian Real Estate Association and la Fédération des chambres immobilières du Québec, building permits, and the census of population.

Error detection

Most reporting and data entry errors are corrected through computerized input and complex data review procedures. Strict quality control procedures are applied to ensure that collection, coding and data processing are as accurate as possible. Data that fail to meet quality standards are subject to verification and are corrected as required. The fact that the assessment roll data are extracted from municipal or provincial administrative files lowers the risk of reporting errors.

Imputation

Municipalities for which values are missing are imputed either using previous year values or values based on census of population information.

Estimation

This methodology type does not apply to this statistical program.

Quality evaluation

Coherence analysis is performed to compare the source data to information obtained from other sources in order to maintain consistency and quality of imputation and adjustment. More specifically, geography coverage analysis is conducted to match census sub-divisions to municipalities reported in the source data, based on which the need for imputation is determined. Estimates are validated through provincial and territorial annual reports.

Disclosure control

Statistics Canada is prohibited by law from releasing any information it collects which could identify any person, business, or organization, unless consent has been given by the respondent or as permitted by the Statistics Act. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential. If necessary, data are suppressed to prevent direct or residual disclosure of identifiable data.

Revisions and seasonal adjustment

Revisions could be made for several reasons. The main reasons may include: receipt of assessment data with an updated price base or volume state date, revisions to auxiliary data used, e.g., Multiple Listing Services (MLS), introduction of new information, when it becomes available, from the most recent census of population, etc.

The annual estimates are not subject to seasonal adjustment.

Data accuracy

No direct measures of the margin of error in the estimates can be calculated. The quality of the estimates can be inferred from analysis of revisions and from a subjective assessment of the data sources and methodology used in the preparation of the estimates.

Report a problem on this page

Is something not working? Is there information outdated? Can't find what you're looking for?

Please contact us and let us know how we can help you.

Privacy notice

Date modified: