Residential Property Values
Detailed information for 2005-2011
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 values at current market price, by reference year. This includes all taxable and exempt properties.
Data release - May 28, 2014
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 values at current market price, by reference year. This includes all taxable and exempt properties.
This product refers to annual aggregated property values at the provincial, territorial, and census metropolitan area level. The current estimates are limited to residential property values which are adjusted to reflect common valuation base and state dates, per reference year, in order to enhance comparability between jurisdictions.
- A base date is the reference date for the valuation of all properties using a market value standard.
- A state date is the reference date for the physical state of the stock of properties to be valued.
The residential property values 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 the current release differs from that used in the release on "Residential and non-residential property assessment values" (see record 5191), to meet Finance Canada's data requirements for fiscal arrangements. For the purposes of fiscal arrangements, values represent taxable property values, expressed according to their taxation year, which corresponds to the year following the value's reference year.
- Families, households and housing
- Housing and dwelling characteristics
- Residential construction
Data sources and methodology
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.
Data are collected for all units of the target population, therefore, no sampling is done.
Data are extracted from administrative files and derived from other Statistics Canada surveys and/or other sources.
The main source of data is assessment values collected from provincial/territorial/municipal assessment entities and are based on assessment rolls. Data 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) 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 assessment data source files contain the assessment values by type of property, taxation status, and other related variables, whose availability varies 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 price indices, building permits data, census of population, and National Household Survey data.
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. Checks are also performed on totals and the magnitude of data. Reports that fail to meet the quality standards are subject to verification and are corrected as required. The fact that the assessment rolls data are extracted from municipal or provincial administrative files lowers the risk of reporting errors.
Municipalities for which values are missing are imputed either using previous year values or values based on census of population information and/or the National Household Survey.
This methodology type does not apply to this statistical program.
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. Within the residential category, the coherence of data on numbers and values of property is examined by comparing the source data to private dwelling counts and values registered in Statistics Canada's 2006 and 2011 Census of population, and 2011 National Household Survey.
Furthermore, provincial/territorial total values for residential property are compared to other sources of data. Any irregularities identified are carefully analyzed and corrections are made before the official release of the data.
Statistics Canada is prohibited by law from releasing any information it collects that 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 data from a respondent with a more updated base or state date, revisions to auxiliary data used, e.g., Multiple Listing Services (MLS), introduction of information, when it becomes available, from the most recent census of population, etc.
The estimates are not subject to seasonal adjustment.
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.
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