ECONOMIC UPDATE
September 2019
VIEW TRENDING ECONOMIC DATA FOR SEPTEMBER 2019
Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the monthly analysis covers several areas, including employment rates and numbers, real estate developments and transactions, building permit values, business license applications, and airport passenger statistics.
 
Information is gathered from a variety of sources, including Statistics Canada, the BC Northern Real Estate Board, the Canada Housing and Mortgage Corporation, the City of Prince George, and the Prince George Airport Authority.  
SEPTEMBER 2019 ECONOMIC INDICATORS
Down 900 jobs in the Cariboo Economic Development Region in September 2019. Manufacturing, and transportation and warehousing are the main industries creating new jobs.
BUILDING PERMITS ON THE RISE
• Total value of building permits issued by the City of Prince George from January to September 2019 was $168.1 million - a 6.4% increase from 2018 with only $157.2 million.

• Residential building permits remain strong in September 2019 with total value issued at $22,247,350 compared to last year at $8,624,961 - a 61% increase from last year. 

• Non-residential building permits decreased by 364% this September, from $1,453,909 in 2018 to $31,000 in 2019.
BUSINESS LICENCE NUMBERS INCREASING
• New business licenses are on the rise in Prince George at 38 new business licenses issued in September 2019. That’s 5 more business licenses issued compared to the previous month in August.

AIR PASSENGER TRAFFIC
• The Prince George Airport (YXS) reported 39,767 passengers going through the airport September 2018. This year we have seen a 2.34% increase with 40,697 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
• The average house sale was down 2.6% from 2018 (comparing September 2018 to September 2019)

• The average house sale price was $374,410 last month. September we are almost 13% lower than August.

• Housing construction starts are incredibly higher than the same period last year.

View more housing statistics, including average rent, housing structure types, and more, through the Townfolio dashboard.
City of Prince George, 1100 Patricia Boulevard, Prince George, BC V2L 3V9
Email: ecdev@princegeorge.ca | Telephone: 250-561-7633 | Fax: 250-561-7724
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