The land development and housing industry is the GTA’s economic engine, according to a new report from the Canadian Home Builders’ Association.

“The land development and housing industry creates thousands of jobs every year and does more than its fair share to drive the economy in our region, our province and our country,” said Bryan Tuckey, president and CEO of the Building Industry and Land Development Association in a column published by The Toronto Star.

“Thanks to a report released by the Canadian Home Builders’ Association, we have the most recent numbers to back up our words — figures that provide estimates of the economic impacts of building and development in the GTA.”

He cited the fact that there were 207,400 jobs across the GTA last year involved in residential and non-residential construction, according to Statistics Canada’s labour force survey, which represents 6.3 per cent of jobs across all sectors in the region.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: