ECONOMIC UPDATE
November 2020
VIEW TRENDING ECONOMIC DATA FOR NOVEMBER 2020
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.
NOVEMBER 2020 ECONOMIC INDICATORS
Down 1500 jobs in the Cariboo Economic Development Region in November 2020. Healthcare and Social Assistance and Professional, Scientific, and Tech Services are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the month of November, 2020 reached $31.1M. This was a 31.9% increase when comparing to November, 2019.

  • There was a increase of $5.7M in industrial building permits when compared to November of the previous year.

  • Building permits are only slightly off last year's record setting pace with a $5.6M difference between the two years.
BUSINESS LICENCE NUMBERS
  • There were 26 new business license applications in November, 2020.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 39,633 passengers in November, 2019. In November of this year there was a 70.94% decrease with 11,519 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 66 homes sold in November, 2020. There was a decrease between the two periods with 70 homes sold in November, 2019.

  • The average house sale price was $389,705 in November, 2020. There was an increase compared to last November when there was an average house sale price of $376,027.

  • There were 44 more Multi Family Dwelling completions in November 2020 compared to November, 2019.

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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