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

Striking Western Forest Products workers could lose benefits in September

Union, forest company at odds over Vancouver Island benefit payments as strike enters third month

Flashback: Library concerns, a new park and new seniors plans

Welcome to Lake Flashback. Reporter Lexi Bainas has been combing through old… Continue reading

Take your family to the Cobble Hill Fair this Saturday

Animals, rides, those wonderful displays in the hall, food and fun in store in Cobble Hill

Motor circuit expansion proposal to go to public hearing

North Cowichan gives applications third readings at packed meeting

Firefighters can’t burn down houses anymore, so they need a training facility

In the old days, everyone gathered to watch a ‘practice fire’, safety regulations won’t allow that now

New police force in Surrey must avoid VPD, RCMP errors made in Pickton case: Oppal

Boots are scheduled to be on the ground by spring 2021

Conan turns to the Property Brothers for tips on buying Greenland

Jonathan Scott suggests removing glaciers and mountains to bring in ‘more natural light’

Forests minister visits B.C. town rocked by multiple mill shutdowns

A third of Mackenzie turns out for rally, not much to cheer about

B.C. sockeye returns drop as official calls 2019 ‘extremely challenging’

Federal government says officials are seeing the same thing off Alaska and Washington state

B.C. music teacher accused of sexual misconduct involving girls

Police believe other victims could be out there after the arrest of Lamar Victor Alviar

B.C. family stranded in Croatia desperate to come home

Funds being raised to bring back mom and two children

$5-million lotto ticket sold in Nanaimo

Someone matched all six numbers in Wednesday’s 6/49 draw

Most Read