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Real Estate in Prince George

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Real estate in Prince George is very affordable when compared to average British Columbia real estate prices, as well as average Canadian real estate prices. Single family homes start at about $150,000, and 2 to 3 bedroom homes on generous lots start at about $250,000. Comparing these prices to B.C. and Canadian averages makes Prince George quite affordable. If you want a monster house and a huge lot, prices start at around $400,000, try that in Kelowna or the Lower Mainland. In 1981 Prince George was the second largest city in B.C. with about 68,000 people. Today (2006 Census) Prince George is home to about 71,000 people. The population increase over about 25 years was only about 4.5 percent. This slow population increase contributes to the lower real estate prices. Prince George is located in the Regional District of Fraser-Fort George and the city is at the confluence of the Fraser and Nechako Rivers. Heritage, College Heights, Hart Highlands and St. Lawrence Heights are prime residential areas, both commercial and residential development are growing at an accelerated rate and more subdivisions are planned for St. Lawrence Heights, West Cranbrook Hill and East Austin Road.

The origins of Prince George can be traced to the Northwest Company fur trading post of Fort George, which was established in 1807 by Simon Fraser and named in honour of King George III. In 1964 the first pulp mill was built, followed by two more in 1966. New schools and more housing were needed and the new subdivisions of Spruceland, Lakeland, Perry and Highglen were built. Then, in 1975, Prince George amalgamated and extended its borders to include the Hart area to the north, Pineview to the south and the old town of South Fort George to the east.

Wood drives the local economy. The Mountain pine beetle epidemic has resulted in a short term boom in the forest industry as companies rush to cut dead standing trees before they have no value. Other industries include: two chemical plants, an oil refinery, brewery, dairy, machine shops, aluminum boat building, log home construction, value added forestry product and specialty equipment manufacturing. Prince George is also home to The University of Northern British Columbia (UNBC), an airport (YXS), and two junior hockey teams in the Prince George Cougars and the Prince George Spruce Kings.

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