ECONOMIC UPDATE
December 2019
VIEW TRENDING ECONOMIC DATA FOR DECEMBER 2019
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 2019 ECONOMIC INDICATORS
Up 3600 jobs in the Cariboo Economic Development Region in December 2019. Wholesale and Retail Trade, and Other Services (except Public Admin) are the main industries creating new jobs.
BUILDING PERMITS SETTING NEW RECORDS
  • The total value of building permits issued in Prince George through the end of December, 2019 reached an all-time high of $223.1M, surpassing the previous year at $186.6M – a 16.3 percent increase between the last two periods.

  • Commercial permits saw a substantial increase in December, 2019 with $5.28M which is far superior to last year with only $0.1M.
BUSINESS LICENCE NUMBERS
  • Typically, business licence applications in December are minimal as January is the start of a new year. There was 1 new business licence application in December 2019.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 44,528 passengers going through the airport December, 2018. This year there was a 6.10% decrease with 41,810 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • The average house sale price was down 13.6% when comparing December 2018 to December 2019.

  • The average house sale price was $239,250 in December 2019. There was a decrease since last December when there was an average house sale price of $271,793.

  • There was an increase in Single Family and Multi Family starts in 2019 with 11 Single Family starts and 13 Multi Family starts.

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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