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

Campaign raises $5,600 to buy special chairs for Abbotsford hospital NICU

Three chairs to be purchased for neo-natal intensive care unit

UFV Lieutenant Governor’s Medal winner an advocate for Indigenous inclusivity

Leanne Julian recognized for involvement in promoting diversity and reconciliation

Walk to End ALS raises $48,000 in Abbotsford

Event held at Mill Lake Park attracted almost 600 people

Fraser Valley author launches second crime novel

Seamus Heffernan releases book Ten Grand on June 27 in Abbotsford

Airshow brings millions to Abbotsford, UFV study says

Out-of-town airshow spectators spend more than $4 million in the city each year

Protesters rally in Victoria over newly approved Trans Mountain pipeline

The Still No Consent! No Trans Mountain! 20 kilometre march will end at Island View Beach

Wildfire burning in coastal forest

A fire beside the Sea to Sky Highway is burning up a steep slope

PHOTOS: Event marks one year since soccer team rescued from Thai cave

Nine players and coach took part in marathon and bike event to help improve conditions at cave

Rock climber dies after fall at Stawamus Chief in Squamish

The man had fallen about 30 metres while climbing in the Grand Wall area

Five B.C. students taken to hospital after playing with vaping device

School district said students were taken to hospital ‘out of an abundance of caution’

Being a pot dealer is not what it used to be

Sunday Big Read: the business of selling marijuana in B.C. is a slow bureaucratic slog

VIDEO: Two more pride flags have been stolen from Langley woman

Lisa Ebenal was “angry” and “fed up” after the latest theft. Then people started showing suppport

B.C. couple who has raised 58 children turns to community amid cancer diagnosis

Family who raised, fostered and adopted many kids hoping to gain some precious together time to fight cancer

Most Read