ECONOMIC UPDATE
July 2020
VIEW TRENDING ECONOMIC DATA FOR JULY 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.
JULY 2020 ECONOMIC INDICATORS
Down 9,600 jobs in the Cariboo Economic Development Region in July 2020. Wholesale and Retail Trade and Transportation and Warehousing are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the end of July, 2020 reached $32.9M. This was almost $3M ahead when comparing to July, 2019.

  • There was an increase of $13M in Residential Permits when comparing to July, 2019.
BUSINESS LICENCE NUMBERS
  • There were 44 new business licence applications in July, 2020 compared to 49 in June, 2020.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 39,146 passengers in July, 2019. In June of this year there was a 75.20% decrease with 9,707 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 129 homes sold in July, 2020. There was an increase between the two periods with 116 homes sold in July, 2019.

  • The average house sale price was $440,729 in July, 2020. There was an increase compared to last July when there was an average house sale price of $372,245.

  • There were 70 more Multi Family Dwelling starts in July, 2020 compared to June, 2019.

View more housing statistics, including average rent, housing structure types, and more, through the Townfolio dashboard.
COVID-19 is having far-reaching impacts on the economy. Information and resources are available to help businesses cope with issues brought on by the pandemic
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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