GDP: Real estate agents enjoy growth led by Ontario, Alberta

by Steve Randall01 Feb 2018
The Canadian economy grew 0.4% in November 2017 according to newly-released figures from Statistics Canada.

Seventeen of the 20 main sector groups gained with manufacturers seeing their industry’s largest growth in 3 years.

The real estate industry also proved a strong driver of economic growth with real GDP gaining 0.4% driven by a 4% growth in the output of real estate agents and brokers offices.

It was the fourth straight month of gains for real estate agents as sales in Ontario and Alberta increased, but the gain was tempered by the Ontario Fair Housing Plan implementation.

The finance sector also gained, up 0.3% in the month, stalling four months of decline in the sector.

For construction, there was a 0.1% rise in GDP in November 2017 but the residential sector was down 0.2% along with repair construction. Non-residential gained 0.9%.

More market update:

Industry news

Submit a press release


Do you do commercial deals?