ECONOMIC UPDATE
December 2020
VIEW TRENDING ECONOMIC DATA FOR DECEMBER 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.
DECEMBER 2020 ECONOMIC INDICATORS
Down 900 jobs in the Cariboo Economic Development Region in December 2020. Healthcare and Social Assistance and Manufacturing are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the month of December, 2020 reached $8.4M. This was a 47.5% increase when comparing to December, 2019.

  • There was an increase of $6.1M in residential building permits when compared to December of the previous year.

  • Building permits are only slightly off last year's record setting pace with a $2.8M difference between the two years.
BUSINESS LICENCE NUMBERS
  • There were 8 new business license applications in December, 2020.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 41,810 passengers in December, 2019. In December of this year there was a 77.57% decrease with 9,379 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 50 homes sold in December, 2020. There was an increase between the two periods with 47 homes sold in December, 2019.

  • The average house sale price was $393,918 in December, 2020. There was an increase compared to last December when there was an average house sale price of $394,267.

  • There were 12 more Multi Family Dwelling completions in December 2020 compared to December, 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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