Investment in New Housing Construction
Detailed information for November 2015
The monthly investment in new housing construction represents the spending value for individuals, enterprises and governments in the construction of new residential dwellings during the reference period. The four dwelling types covered by this monthly release are singles, doubles, rows and apartments.
Data release - January 21, 2016
The monthly investment in new housing construction measures the spending value for individuals, enterprises and governments in the construction of new residential dwellings during the reference period. The four dwelling types covered by this monthly release are singles, doubles, rows and apartments.
Building permits data are used to associate an average value for each dwelling type in every province to the number of housing starts from Canada Mortgage and Housing Corporation (CMHC). Work-put-in-place coefficients spread the value assigned to housing starts over the construction period.
The statistics are used by both internal and external clients, including the Canadian System of National Accounts, the Bank of Canada and Finance Canada, as well as economists and analysts from the public and private sector.
- Residential construction
Data sources and methodology
The target population refers to the investment in new residential buildings for the four principal dwelling types (singles, doubles, rows and apartments) as defined by the 2011 Census.
Data are collected from other Statistics Canada surveys and/or other sources.
The monthly investment in new housing construction is based on Statistics Canada Monthly Building Permits Survey completed by Canadian municipalities (survey record 2802) and CMHC's Starts and Completions Survey.
Most reporting and data entry errors are corrected using complex data review procedures. Strict quality control procedures are applied to ensure that collection, coding and data processing are as accurate as possible. Checks are also performed on totals and the magnitude of data.
The monthly investment in new housing construction is calculated by associating an average value - derived from the Building Permits Survey - for each dwelling type (singles, doubles, rows and apartments), in each province, to the number of housing starts from CMHC. Work-put-in-place coefficients spread the value assigned to housing starts over the construction period.
The investment for a given month will be a function of the work done on units started in that month, in addition to the work done on all the other housing starts from preceding months for which the construction would not be completed.
Estimates on investment in new housing construction and its four main components (singles, doubles, rows and apartments) are compared periodically with data and trends from building permits, housing starts and completions from CMHC, and various other sources to ensure that the quality of the estimates is maintained. Moreover, these estimates are analyzed for time series consistency and confronted to current economic events.
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
Estimates for investment in new residential building construction are periodically revised to take into account new information from building permits and/or CMHC. Data for the previous month are subject to revision with the release of the current reference month. Also, with the release of a reference month ending a quarter (i.e. March, June, September or December), revisions can be made on data for the three previous months.
With the March reference month data release, monthly investment estimates are revised for the previous year to take into account the annual revision to the unadjusted data from building permits.
Data on investment in new housing construction are not seasonally adjusted; therefore, comparisons should only be made on a year-over-year basis.
No direct measure 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 when preparing the estimates.
- Methodology - Investment in New Residential Building Construction (Work put in place)
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