Dipping Abbotsford house prices suggest being a couch potato is no longer more profitable than working

The value of the average house rose by $350k from 2014 to 2019, more than most would make in 5 years

Home prices have dipped the last year, but if you owned a house five years ago, you’re still much wealthier – on paper at least – now than then.

In fact, in terms of income, if you owned a “typical house,” there’s a good chance you’ve made more by sitting on your couch than actually working.

In August of 2014, the benchmark price for a typical home – as defined by the Fraser Valley Real Estate Board – was $451,400. This August, the typical home cost $803,900. That’s an increase of just over $350,000 – an average of about $70,000 each year. The last census found that the median employment income in 2015 for full-time workers in Abbotsford was just shy of $50,000.

Of course, those numbers are a little flawed – the type of home defined as “typical” by the FVREB inevitably changes a bit each year, as older homes get torn down and new ones get built. But five properties that sold in each of 2014 and 2019 all saw major gains, with sale prices between $200,000 on the low end to more than $400,000 on the high end, according to figures provided by BC Assessment.

Still, you should probably get off that couch. All those gains actually came between 2014 and 2018. The last year, the typical house has actually dipped in value by about $25,000 – or 3.1 per cent.

Owners of townhomes and apartments have also saw their properties spike in value – although prices have dropped even more over the last year.

The benchmark price for townhomes increased from $215,100 in 2014 to $383,600 this August, although prices have sank about five per cent in the last year. Still, over five years, that’s an average increase of $33,700.

Apartment benchmark prices have more than doubled, from just $140,700 in 2014 to $311,300 this August. That increase amounts to about $34,000 each year.

RELATED: Price of a new house in Abbotsford will get you a waterfront tower, two homes & 100 acres in PEI

Do you have something to add to this story, or something else we should report on? Email:

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

VIDEO: #FreeThemAll group protests for prisoner rights in Abbotsford

About 20 participate in car demonstration outside of Matsqui Institution on Sunday

Abbotsford Christian’s Meinen named 2A all-star

Zach Meinen named to provincial all-star squad for 2019-20

Abbotsford football star Samwel Uko dies at age 20

Panthers star running back dies on May 21, cause of death not yet known

A second wave of COVID-19 is probable, if history tells us anything

B.C.’s top doctor says that what health officials have learned this round will guide response in future

VIDEO: Suspected drunk driver caught on dashcam in Abbotsford

Police say they located vehicle, nearby intoxicated man, but couldn’t tie him to the driver’s seat

LIVE: Procession to honour Snowbirds Capt. Jennifer Casey comes to Halifax

Snowbirds service member died in a crash in Kamloops one week ago

Facing changes together: Your community, your journalists

New platform allows readers to make a one-time or ongoing donation to support local journalism

RCMP facing ‘systemic sustainability challenges’ due to provincial policing role

Provinces, territories and municipalities pay anywhere from 70 to 90 per cent of the cost of the RCMP’s services

‘Not a joke’: Promoter wants to rocket-launch man the length of White Rock pier

Brooke Colby says he’s building an eight-foot rocket in his backyard

RCMP confirm man dead in Chilliwack shooting incident

The Independent Investigations Office of B.C. is investigating the RCMP’s role in the death

B.C. employers worry about safety, cash flow, second wave in COVID-19 restart

A survey found 75 per cent of businesses worry about attracting customers

Ex-BC Greens leader Andrew Weaver says province came close to early election

Disagreement centred on the LNG Canada project in northern B.C.

Canada’s NHL teams offer options to season-ticket holders

Canadian teams are offering refunds, but also are pushing a number of incentives to let them keep the money

Boy, 2, left with ‘soft tissue injuries’ after being hit by car in Squamish intersection

Boy was release from hospital, police continue to investigate

Most Read