ECONOMIC UPDATE
March 2022
VIEW TRENDING ECONOMIC DATA FOR MARCH 2022
Every month, the City of Prince George Economic Development Division tracks economic indicators to better understand the business climate in Prince George. Data in this 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.
MARCH 2022 ECONOMIC INDICATORS
90,200 Employed in the Cariboo Economic Development Region in March 2022. Wholesale and Retail Trade and Construction are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the month of March 2022 reached $22M. This was a $7.4M increase compared to March 2021.

  • There were a total of 60 new building permits issued in March 2022 compared to 35 in the previous year.

  • For the third month of 2022, the total building permit value is $58.3M, which is $25.8M more than the same period in 2021.
BUSINESS LICENCE NUMBERS
  • There were 64 new business license applications in March 2022.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 7,939 passengers in March 2021, there was a 246.43% increase with 27,503 passengers arriving and departing in March 2022. This is a result of easing COVID-19 restrictions.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 138 homes sold in March 2022. This represents a large decrease from a year prior, with 226 homes sold.

  • The average house sale price was $553,073 in March 2022. This is an increase compared to last March when there was an average house sale price of $384,847.

  • There was 51 Multi Family completions in March 2022, there was an increase compared to last March when there was 8 Multi Family completions.

View additional 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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