The number of people employed in the Thompson Okanagan Region decreased from 265,100 in July 2017 to 261,100 in July 2018. Simultaneously, the number of people in the labour force decreased from 280,900 in July 2017 to 277,800 in July 2018. Last month, employment rates were 62.0% in B.C. and 62.4% in Canada, while the Thompson Okanagan Region was 58.4%. The unemployment rate in the Thompson Okanagan Region increased from 5.9% in June to 6.0% in July.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops 2017-2018
Airport Passenger Volumes
Passenger numbers continue to reflect positive growth with the highest second quarter ever for Kamloops Airport, as well as the best May and June on record.
Source: Kamloops Airport Authority
In July 2018, a total of 323 residential units were sold in Kamloops, down from the 386 total units in July of the previous year. New listings were down from the 563 in July 2017 to the 536 in July 2018, and the total value of residential units sold decreased from $138,433,953 (2017) to $127,386,589 (2018). The average home price in Kamloops was $472,000 in July compared to the BC average of $725,639.
The actual (not seasonally adjusted) national average price for homes sold in July 2018 was just under $481,500, up 1% from the same month last year. This was the first year-over-year increase since January.
The national average price is heavily skewed by sales in the GVA and GTA, two of Canada's most active and expensive markets. Excluding these two markets from calculations cuts close to $100,000 from the national average price, trimming it to just under $383,000.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 244 new housing starts in Kamloops in July 2018. This is in comparison to 163 starts in July 2017. The 244 housing starts represented $37,127,983 in construction value, compared to $30,460,718 in construction value for the 163 housing starts in July of the previous year.
Source: City of Kamloops; Statistics Canada
In July 2018, the City of Kamloops issued 43 residential building permits valued at $37,521,583 down from the 67 permits issued in July of the previous year at a value of $31,603,088. A total of 11 commercial building permits were issued in July 2018 with a value of $2,224,025 compared to the 9 permits issued in July 2017 with a value of $5,289,995.
Source: City of Kamloops
Kamloops issued 51 new business license applications in July 2018, down from 60 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops