Real estate agents, brokers, appraisers and other real estate activities industries

Total revenues reported by real estate agents, brokers, appraisers and other real estate industries increased sharply in 2004, reflecting the continued upward trend in residential real estate markets. Historically low mortgage rates, along with steady growth in the Canadian economy, continued to fuel real estate markets during 2004.

Total revenue for these industries surged 11.4% to $8.9 billion in 2004. This growth reflects an increase in sales and higher real estate prices. For example, Statistics Canada's national New Housing Price Index jumped almost 6% during 2004, nearly four times the rate of inflation.

Ontario continued to account for the bulk of the industry with 52.0% of total revenue, followed by British Columbia with 19.0% and Quebec with 13.4%.

These industries were dominated by the offices of real estate agents and brokers, which generated 88% of the total revenue.

Data on the real estate agents, brokers, appraisers and other real estate activities industries are now available for 2004. These data provide information on revenue and expenses at the provincial and territorial level.

Available on CANSIM: table 352-0005.

Definitions, data sources and methods: survey number 4706.

For more information, or to enquire about the concepts, methods and data quality of this release, contact Adib Farhat (613-951-6306; adib.farhat@statcan.gc.ca) or Eric Chamberland (613-951-0443; eric.chamberland@statcan.gc.ca), Service Industries Division.