ECONOMIC UPDATE
January 2020
VIEW TRENDING ECONOMIC DATA FOR JANUARY 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.  
JANUARY 2020 ECONOMIC INDICATORS
Up 1500 jobs in the Cariboo Economic Development Region in January 2020. Wholesale and Retail Trade, and Other Services (except Public Admin) are the main industries creating new jobs.
BUILDING PERMITS SETTING NEW RECORDS
  • The total value of building permits issued in Prince George through the end of January, 2020 reached $7.7M, surpassing the previous year at $4.5M – a 42 percent increase between the last two periods.

  • Commercial permits saw a substantial increase in Jan, 2020 with $3.5M which is far superior to last year with only $0.8M.
BUSINESS LICENCE NUMBERS
  • There was an increase of business licence applications in January 2020. There have been 12 more applications compared to last year.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 39,015 passengers going through the airport January, 2020. This year there was a 5.77% decrease with 39,015 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There was no change in housing sales compared to last January, with a total of 42 homes sold in January, 2020.

  • The average house sale price was $370,328 in January, 2020. There was an increase since last January when there was an average house sale price of $356,316.

  • There was a significant increase in Multi Family completions in January, 2020 with 122 more completions compared to last January.

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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