ECONOMIC UPDATE
September 2020
VIEW TRENDING ECONOMIC DATA FOR SEPTEMBER 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.
SEPTEMBER 2020 ECONOMIC INDICATORS
Down 3000 jobs in the Cariboo Economic Development Region in September 2020. Wholesale and Retail Trade and Healthcare and Social Assistance are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the end of September, 2020 reached $30.6M. This was a 37% increase when comparing to September, 2019.

  • There was an increase of $3.8M in commercial building permits compared to the previous year.

  • Building permits are only slightly off last year's record setting pace with a $6.7M difference between the two years.
BUSINESS LICENCE NUMBERS
  • There were 57 new business licence applications in September, 2020 compared to 44 in August, 2020.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 40,697 passengers in September, 2019. In September of this year there was a 73.21% decrease with 10,902 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 118 homes sold in September, 2020. There was an increase between the two periods with 86 homes sold in September, 2019.

  • The average house sale price was $431,481 in September, 2020. There was an increase compared to last August when there was an average house sale price of $378,052.

  • There were 11 more Single Family Dwelling completions in September 2020 compared to September, 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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