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

Fraser Valley Bandits draft Abbotsford’s Joel Friesen first overall

Professional basketball team reveals 13 players selected at CEBL draft

Abbotsford council votes to increase their event expense limits

Increase needed in case annual conferences require significant travel, staff say

Plans redrawn for Fraser Valley Inn redevelopment

Owner of building scales back plans on inn site, adds proposal to build second low-rise

LETTER: Why is Jati Sidhu ashamed of his riding?

Lytton’s Christopher di Armani shares his dismay at the potential name change of the MP’s riding

Solitary confinement gets overhaul at Abbotsford prison

‘It’s more social,’ Matsqui Institution’s citizens advisory committee chair says

Sparks fly as SUV speeds down wrong side of Highway 1 trying to flee RCMP

Captured on video, the vehicle headed westbound against oncoming traffic before crashing

VIDEO: Vancouver fall to Seattle in Game 2 of the playoffs

Thunderbirds topple the Giants 4-1 in Langley, evening the Western Conference series one game each

Calgary captain has 3 points as Flames torch Canucks 3-1

Giordano leads way as Alberta side cracks 100-point plateau

1,300 cruise ship passengers rescued by helicopter amid storm off Norway’s coast

Rescue teams with helicopters and boats were sent to evacuate the cruise ship under extremely difficult circumstances

Province announces $18.6 million for B.C. Search and Rescue

The funding, spread over three years, to pay for operations, equipment, and training

Vancouver-bound transit bus involved in fatal crash near Seattle

One man was killed and a woman injured in crash with bus purchased by TransLink

Late-season wave of the flu makes its round in B.C.

BC Centre for Disease Control reported 50 per cent jump in flu cases in first weeks of March

Most Read