Property values released by B.C. Assessment

How much will your house be worth in 2019?

Wondering how much your home is worth as 2019 gets underway?

How about your neighbour’s?

BC Assessment’s valuation of homes across the province, which is based on what was happening in the real estate market as of July 1 this year, was released this morning.

“It’s a real mix in property value changes, but the market can best be summed up as showing signs of stability across most areas of the province,” said assessor Tina Ireland, in a press release. “Changes in property assessments really depend on where you live. For example, assessed values for detached single family homes in many areas of Metro Vancouver may see a softening in value, while other markets and areas of the province will see modest increases over last year’s values.”

Based on what was happening in the real estate market as of July 1 this year, the 2019 property assessment highlights include:

  • Some Metro Vancouver detached single family homes were showing decreases in value of -5 per cent to -10 per cent over last year, including in areas of Vancouver, the North Shore, South Surrey, White Rock, South Delta and Richmond. Other areas were relatively stable or even showing modest increases.
  • The rest of the province could expect increases of five to 15 per cent for single family home assessed values. This includes the Fraser Valley, Vancouver Island, Okanagan and the North. In many parts of central and northern Vancouver Island, values were increasing closer to 20 per cent. And, in Kitimat, the increases were even greater in response to activity within the resource sector.
  • The residential strata market (i.e. condominiums) increased with typical values of 10 to 20 per cent across most areas of the province. Vancouver, the North Shore and Burnaby increases were slightly less than this range while the eastern Fraser Valley increases may be higher in some cases.
  • Typical commercial and industrial properties experience continued increases across most of the province in the 10 to +20 per cent range, with some markets around Metro Vancouver up +30 per cent.

All British Columbia’s property owners will receive their annual property assessment notices in early January 2019.

During December, BC Assessment is providing notification letters to property owners whose assessments are increasing significantly more than the average change.

Just Posted

Willow Point Summer Market back for third go-round

Now accepting applications for ‘anything and everything,’ but specifically in need of entertainers

Carihi fly fishers earn invite to National Championship

10 students will travel to Maple Ridge next month, but they need your help to get there

Storm sweeps Saanich in semifinals

Despite starting well after the other semi-final series, the Storm now has to wait….

CF movie hits home pretty closely to me

Campbell River woman offers perspective on Hollywood’s Five Feet Apart

Penstocks coming out at old John Hart Generating Station

UPDATED WITH VIDEO: Work is part of decommissioning of old power station in Campbell River

Penstocks coming out at old John Hart Generating Station

UPDATED WITH VIDEO: Work is part of decommissioning of old power station in Campbell River

B.C., feds accused of ‘environmental racism’ over Site C, Mount Polley

Amnesty International Canada says governments failed to recognize threats to Indigenous peoples

New Leger polls suggests federal Liberals lagging Conservatives

Overall, 31 per cent of respondents polled said they would vote for Justin Trudeau’s Liberals

Number of homeless deaths more than doubled in B.C. as opioid crisis set in

New data shows trend between more overdose deaths and the number of people dying in the street

Four people spat on in ‘random, unprovoked’ assaults: Vancouver police

Police ask additional victims to come forward after woman in a wheelchair spat on

Indian Day School students eligible for $10K apiece

Islanders included in settlement package reached with Canada’s federal government

Teen girl accused in plot to attack Kamloops school with weapons out on bail

Judge warned the girl she would be back in jail if she threatened to shoot anyone

Parksville’s mystery cowboy revealed

Kevin Gourlay’s horse garners attention for being ‘parked’ outside a liquor store

Crown drops one assault charge against B.C. man linked to human remains probe

Curtis Wayne Sagmoen will still stand trial on one count of assault causing bodily harm in December.

Most Read