The number of people employed in the Thompson Okanagan Region increased from 251,300 in July 2016 to 265,100 in July 2017. Simultaneously, the number of people in the labour force increased from 269,900 in July 2016 to 280,900 in July 2017. Last month, employment rates were 60% in B.C. and 62.5% in Canada, while the Thompson Okanagan Region was 63%. The unemployment rate in the Thompson Okanagan Region decreased from 5.7% in June to 5.6% in July.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops for Q2 2017
Airport Passenger Volumes
June saw a leveling in the number of travelers from year to year as the ski market remains strong for Sun Peaks and the North Thompson valley. The year to date numbers reflect a decline over the first 2 months of the year due to a drop-off in the number of commuting workers between Kamloops and Northern Alberta.
Source: Kamloops Airport Authority
In July 2017, a total of 389 residential units were sold in Kamloops, up from the 362 total units in July of the previous year. New listings were down from 606 in July 2016 to the 563 in July 2017, and the total value of residential units sold increased to $140,917,853 (2017) from $116,870,582 (2016). The average home price in Kamloops was $420,000 in July compared to the BC average of $698,761 and the Canadian average of $478,696.
The actual (not seasonally adjusted) national average price for homes sold in July 2017 was $478,696, down 0.3% from where it stood one year earlier. This was the first y-o-y decline in the measure since February 2013, reflecting fewer sales in the GTA and Greater Vancouver on a y-o-y basis.
Because these 2 markets nonetheless remain highly active and expensive, Greater Vancouver and Greater Toronto upwardly skew the national average price. Excluding these two markets from calculations trims almost $100,000 from the national average price ($381,297).
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 168 new housing starts in Kamloops in July 2017. This is in comparison to 44 starts in July 2016. The 168 housing starts represented $30,460,718 in construction value, compared to $10,742,425 in construction value for the 44 housing starts in July of the previous year.
Source: City of Kamloops; Statistics Canada
In July 2017, the City of Kamloops issued 67 residential building permits valued at $31,603,088 up from the 49 permits issued in July of the previous year at a value of $11,284,190. A total of 9 commercial building permits were issued in July 2017 with a value of $5,289,995 down from the 10 permits issued in July 2016 with a value of $7,454,446.
Source: City of Kamloops
Kamloops received 60 new business license applications in July 2017, up from 49 the previous year.
Business Licenses Issued (YTD)
Residential Building Permits Issued (YTD)
Commercial Building Permits Issued (YTD)
Source: City of Kamloops