ECONOMIC UPDATE
May 2021
VIEW TRENDING ECONOMIC DATA FOR MAY 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.
MAY 2021 ECONOMIC INDICATORS
Up 9,500 jobs in the Cariboo Economic Development Region in May 2021. Healthcare and Social Assistance, Public Administration are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the month of May 2021 reached $57.1M. This was a $43.6M increase when comparing to May, 2020.

  • There was an increase of $46.1M in residential building permits when compared to May of the previous year. While the total value of residential permits in May 2021 is significantly higher than the previous year, the increase is due to $47M in multi-family permits with remaining $5.8M as single-family permits

  • There was a total of 72 permits in May 2021 when compared to 56 in the previous year.
BUSINESS LICENCE NUMBERS
  • There were 71 new business license applications in May, 2021.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 1,910 passengers in May, 2020. In May of this year there was a 325.34% increase with 8,124 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 132 homes sold in May, 2021. There was an increase between the two periods with 76 homes sold in May, 2020.

  • The average house sale price was $450,947 in May, 2021. There was an increase compared to last May when there was an average house sale price of $379,411.


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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