Regional Statistics & Research Update
Comox Valley Economic Development's services include the collection and provision of economic data and statistics about the region. To view additional resources click here.
112 single-family homes sold in the Comox Valley in July 2016, a 33% increase over July 2015. 12 months-to-date single-family unit sales were 944, a 14% increase over the same period last year. The average single-family unit selling price for June 2016 was $396,481, a 13% increase over June 2015. There were 31 housing starts in July 2016, a 158% increase over June 2015. There have been 159 housing starts YTD, a 39% decrease over last year YTD.
Source: VIREB Graph Stats Comox Valley, Canadian Mortgage and Housing Corporation
The BC unemployment rate decreased from 5.9% in June 2016 to 5.6% in July 2016. One year ago the unemployment rate was 6.0%. The labour force grew by 0.2% while the participation rate remained the same. The number of employed increased 0.5% and the number of unemployed fell by 4.9% from June 2016 to Juy 2016. The Vancouver Island/Coast Development region's 3-month moving average unemployment rate saw a 0.2% decrease from 5.1% to 4.8% in June from May, with an increase of 4,300 employed.
Source: Statistics Canada Labour Force Survey, Highlights prepared by BC Stats
Data is Seasonally Adjusted
Consumer Price Index
The Consumer Price Index (CPI) in BC rose 2.1% in July 2016 over July 2015. The inflation rate rises to 2.7% when energy is excluded. The CPI in metropolitan areas of BC, Victoria and Vancouver, rose 2.6% and 2.0% respectively. Canada's CPI increased by 1.3% in June, with Newfoundland & Labrador having the highest increase (3.4%) and Quebec having the lowest (0.2%).
Source: Statistics Canada Consumer Price Index, Highlights prepared by BC Stats
Additional Hotel Room Tax Revenues for January - May 2016 are up 33% over the same period in 2015. True Visitor Parties at the Vancouver Island Visitor Centre in July were up 15.1% over July 2015, and are up 8.6% YTD. The Comox Valley Airport has seen an increase in passenger volumes of 3.3% in July 2016 over 2015, and a YTD increase of 8.98% over 2015.
Source: AHRT Report, VIVC Report, Comox Airport Passenger Volumes
News & Events
Comox Valley Hosts Minister of Agriculture
Minister of Agriculture, Norm Letnick, was hosted at the Best Western, the Westerly Hotel in the Comox Valley on August 25 to meet with seafood producers and others to discuss skilled labour and human-resource planning. Read more here.
Mount Washington announces $2 Million in Investment
Over two million dollars will be spent on improvements to infrastructure, equipment, and service outlets for the upcoming winter season, in addition to the investment made this summer to bring back mountain biking. According to Peter Gibson, Mount Washington's General Manager, "These investments will improve the on-snow product and the quality of our guest experience from new groomers to a new restaurant to new rental skis."
Read more here
Save the Date
Organic Week Workshop
Small Scale Food Processor Association
Business Development Workshop
October 18 - 19, 2016