ECONOMIC UPDATE
August 2021
VIEW TRENDING ECONOMIC DATA FOR AUGUST 2021
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.
AUGUST 2021 ECONOMIC INDICATORS
Up 3,600 jobs in the Cariboo Economic Development Region in August 2021. Accommodation and Food Services and Manufacturing are the main industries creating new jobs.
BUILDING PERMITS DECREASE
  • The total value of building permits issued in Prince George through the month of August, 2021 reached $14.3M. This was a $34.1M decrease when comparing to August, 2020. Which is largely a result of an investment from the city for the downtown pool is associated with a $35M building permit that was issued in August 2020.

  • There was a total of 34 permits in August 2021 when compared to 67 in the previous year.

  • For the first 8 months of 2021 the total building permit value is $145M which is $13.8M more than the same period in 2020.
BUSINESS LICENCE NUMBERS
  • There were 45 new business license applications in August, 2021.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 11,006 passengers in August, 2020. In August of this year there was a 145.22% increase with 26,989 passengers arriving and departing. This is a result of easing COVID-19 restrictions.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 103 homes sold in August, 2021. There was minimal change between the two periods with 102 homes sold in August, 2020.

  • The average house sale price was $459,758 in August, 2021. There was an increase compared to last August when there was an average house sale price of $403,874.


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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