Prince George, BC

The ultimate outdoor winter sport. Its an annual event here in Prince George. This year will be the 21st year.

For those new to Prince George, the Iceman is a team relay or solo event consisting of an 8 km ski at the Otway Nordic Ski Centre, followed by a 10km run into town. ( the 10 km run is what I will be running), a 5km skate at the new Outdoor Ice Oval, a 5km run in the Pinewood subdivision, and a 800 m swim at the Prince George Aquatic Centre.

As a Prince George Realtor I will be proud to be out in the community with some of my fellow Realtorsfrom my office participating in this great event. It even looks like the weather is going to co-operate, the forecast is for 1 above and sunshine on Sunday, perfect!!

We will be out there putting our best, ski, runner, or bathing-suit forward. The annual Iceman event starts at 10:00 am Sunday morning. Stay posted as I will have all the exciting Prince George Iceman events to share with you after the weekend.

Read more http://www.mag-net.com/iceman

The Prince George economy performed very well in 2007, keeping business confidence strong.

Despite mill announcements of shutdowns throughout the region, numerous strategic

development projects ongoing into 2008 will ensure that the city continues to diversify.

New investments in Northern B.C. the past week have been good news for the region and signs

that transition to new markets is taking place. Horizon Air announced it will begin non-stop

daily direct service between Prince George and Seattle May 1st, offering low cost fares to many

connecting destinations throughout the U.S. as well as Northern B.C.'s first transborder air

service. Growing passenger transportation options are an important driver of economic growth

making this an important step forward for Prince George and the market capture area of about

250,000 people. Also, Pioneer Family Timber Partnership and Pinnacle Pellet Inc. announced

the formation of a partnership which has acquired the shares of Tall Oil Canada. With the fibre

resource, Pinnacle Pellet Inc. plans to expand Williams Lake pellet production facility and

construct a new wood pellet production facility adjacent to Dunkley Lumber Ltd. Production

from the expanded and new pellet facilities is scheduled to commence during 2008.

Economic Activity Statistics

2007 was a strong year for employment in Prince George, with a rate of employment of 69.4%

for the year, compared with 67.6% for 2006. The unemployment rate was 5.1% in December,

slightly higher than the previous month and the same month in 2006. Annual unemployment,

however, was significantly lower than 2006 (5.1% compared to 6.3%). Unemployment averaged

5.17% for the last three months of the year, compared to 5.33 % over the same period in 2006.

At 70% in December, the employment rate was 2.4 percent higher than in 2006, with 2,900 more

employed persons than at the same time last year. Both full and part-time employment numbers

increased in December, over the previous month.

1,824 properties, valued at $373.7 million, exchanged hands in Prince George through MLS in

2007, compared to 1,991 properties worth $322.1 million in 2006. The average resale price for a

single family residential home was 21.7% higher in 2007 than in 2006 ($240,245 compared to

$197,444). New home prices also continue to be strong relative to 2006; the average cost of a

new home was $372,820 in November 2007, a 9% decrease from the previous month, but still

24% higher than in November 2006. The outlook for real estate in the city continues to be

positive.

2007 housing starts total 328 (288 single detached and 40 multiples), with 3 starts in December.

Starts were up 2.5% over 2006, and reached the highest levels in over a decade. YTD

completions for the first eleven months of the year totaled 208, with 33 completions in

November. There were 345 housing units under construction in November, which is a dramatic

increase of 49% over the same month in 2006. Housing demand in the city is likely to continue

to be strong in the coming year.

Building permits issued for the month of December totaled $1,236,287, bringing the 2007 total

to $153,923,866. The annual total is a 62% increase over 2006 and the highest in decades. Retail

building accounts for the majority of permits issued, at 37.6%, and Commercial and Institutional

permits issued follow at 33 and 25%, respectively.

The City of Prince George approved 31 new business license applications in December, which is

an increase over the same month in 2006. The relative strength of business activity in 2007

indicates the continuing confidence of entrepreneurs and consumers.

In 2007 the PGAA surpassed their best ever year with 407,300 passengers traveling through

YXS, a growth of 3.27% and the first time volumes have exceeded 400,000.

From: Initiatives Prince George 250-564-0282

www.initiativespg.com

Wow another great day here in Prince George BC. Woke up to about 6 inches of new fluffy snow and only -5c. One of the many things I like about Prince George is we normally get 4 different seasons and our winters are normally snow, and sunny skies.

Here is a picture I just took at 7:10am today after I shovelled the snow.

Ferguson Lake is on the north side of town within city limits.

Hard to believe this pristine wilderness setting is so close at hand. Plenty of snow up here and if you step off the trail you are hip deep. There's fish in the lake, probably fast asleep under that vast white blanket.

The trail has a wonderful boardwalk along the south side that elevates you from the marsh. The dogs don't seem to like being off the ground though.

There's running water even now through a break in the beaver dam on the east end. It kind of reminds you that this will all melt after all.

If you go - take the Ferguson Lake Rd as it turns off west from the North Kelly Rd, and in 5 minutes you are their at the little parking lot.

Enjoy, Andy

Overall 2007 has been an excellent year for the Prince George economy. Employment activity in

the city has been positive all year, with low unemployment and a high proportion of the labour

force fully employed. Other economic indicators continue to reflect the confidence of consumers

and business owners. Housing sales and housing starts have reached the highest levels in nearly

ten years, the total value of building permits is the highest in decades, and business license

approvals have also exceeded those of recent years. The continued strength of these economic

indicators forecasts solid performance in 2008.

We continue to see evidence that Prince George's economy is making a positive transition.

Despite the challenges for the region as a result of US housing downturn, there have and will

continue to be new developments in 2008 and beyond that are changing the face of the economy

of Northern BC. Prince George is well-positioned to benefit with transportation infrastructure

investments that connect it to growing international trade routes. Competitive land costs for

industrial development have become a strong asset for the region as well as our affordable

energy costs and well trained workforce. Interest from Asia-Pacific especially for wood products

and green energy is growing. Mining exploration increases the probability of discoveries in the

area. Growing urban investment in hotels, retail, and recreation is visible in all directions

enhancing Prince George's ability to attract and retain residents.

Economic Activity Statistics

Despite layoffs occurring due to recent downturns in the forest sector, overall employment in

Prince George continues to be strong, which is an indicator of the strength of other areas of the

economy. The unemployment rate fell in Prince George for the third straight month, reaching

4.9% in November, and unemployment continues to be lower than at this time last year, with an

average for the last three months of 5.3%, compared to 6.0 % over the same period in 2006. At

67.6% in October, the employment rate was 2 percent higher than in 2006, with 1,300 more

employed persons than at the same time last year. Full and part-time employment numbers are

also relatively stable compared to this period in 2006, when full-time employment was declining

significantly (Between October and November 2006, full-time employed persons declined by

1,700 compared to only 200 between October and November 2007).

The outlook for real estate in the city continues to be positive. In the first nine months of 2007,

1453 real estate properties (all types) changed hands in Prince George, worth $298 million. The

average resale price for a single detached residential home was 24.9% higher for the first nine

months YTD in 2007 than in the same period in 2006 ($239,392 compared to $191,629),

although the number of homes sold YTD was lower (866 compared to 950). New home prices

continue to increase; the average cost of a new home was $408,114 in October 2007, an 11%

increase from the previous month.

Year-to-date housing starts and completions total 306 and 175, respectively, with 45 starts and

20 completions in October. Cumulative housing starts from January to October were up 9.3%

over the same period in 2006 and in October 2007 there were 359 housing units under

construction in the city, which is a dramatic increase of 53% over the same month in 2006. This

is an indicator of the continued strength of housing demand in the city.

Building permits issued for the month of November totaled $39,294,162, with the majority of the

total attributed to Institutional permits valued at $35.9 million. Year-to-date permit values are up

70% over the same period in 2006, and are at the highest level in decades.

The City of Prince George approved 68 business license applications in October, which is an

increase over the same month in 2006. The relative strength of business activity indicates the

continuing confidence of entrepreneurs and consumers.

From: Initiatives Prince George