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.
84 single-family homes sold in the Comox Valley in September 2016, a 29% increase over September 2015. 12 months-to-date single-family unit sales were 1,017, a 22% increase over the same period last year. The average single-family unit selling price for September 2016 was $419,456 a 13% increase over September 2015. There were 32 housing starts in August 2016, a 9% decrease over August 2015. There have been 191 housing starts YTD, a 35% decrease over last year YTD.
Source: VIREB Graph Stats Comox Valley, Canadian Mortgage and Housing Corporation
Labour Force
The BC unemployment rate increased from 5.5% in August 2016 to 5.7% in September 2016. One year ago the unemployment rate was 6.4%. The labour force grew by 0.1% while the participation rate remained unchanged. The number of employed did not change and the number of unemployed grew by 2.7% from August 2016 to September 2016. The Vancouver Island/Coast Development region's 3-month moving average unemployment rate saw a 0.4% increase from 5.0% to 5.4% in September from August, with an increase of 1,700 employed.
Source: Statistics Canada Labour Force Survey, Highlights prepared by BC Stats
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Data is Seasonally Adjusted
Consumer Price Index
The Consumer Price Index (CPI) in BC rose 1.8% in September 2016 over September 2015. The inflation rate remains the same when energy is excluded and increases to 2.1%. The CPI in metropolitan areas of BC, Victoria and Vancouver, rose 1.7% and 2.2% respectively. Canada's CPI increased by 1.3% in September, with Newfoundland & Labrador having the highest increase (3.8%) and Alberta having the lowest (0.5%).
Source: Statistics Canada Consumer Price Index, Highlights prepared by BC Stats
Tourism Indicators
Additional Hotel Room Tax Revenues in July 2016 were up 55% over July 2015. January - July 2016 revenues were up 34% over the same period in 2015. True Visitor Parties at the Vancouver Island Visitor Centre in September were up 24% over September 2015, and are up 8.7% YTD. The Comox Valley Airport saw an increase in passenger volumes of 15% in September 2016 over 2015, and a YTD increase of 9% over 2015.
Source: AHRT Report, VIVC Report, Comox Airport Passenger Volumes
News & Events
Free Seminars & Webinars With Small Business BC
Small Business BC and The Province of BC have partnered to offer Small Business Month Free Services Plan which allows entrepreneurs and small business owners in BC free access to Small Business BC's education and client services. Use the promocode: SBMATE2016. Find out more here.
Comox Valley Welcome Sign Project Complete
The new Comox Valley Welcome Highway Sign project officially launched last month with the attendance of many businesses, donors, and hardworking volunteers who supported the fundraising and construction of this project. The Welcome Sign is part of a larger regional undertaking to drive increased visitation and awareness to the Comox Valley. This included the construction of the award winning Vancouver Island Visitor Centre in 2011/12 and new directional road signage to help visitors find the Centre; new Service and Attraction signs on the Highway 19 promoting accommodation's and restaurants; and new distance signage to intercept travellers as they departed BC Ferries and travelled north on Highway 19.
RCAF Declares FWSAR Training Centre to be Located in Comox
Lt.-General Mike Hood of the Royal Canadian Air Force declared Comox will be the home of the new Fixed Wing Search and Rescue Training Centre.
Read more here.
Vancouver Island Economic Alliance Summit
October 26 - 27, 2016 - Vancouver Island Conference Centre, Nanaimo
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