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

Fort St. James gets a new CAO

Melany Helmer comes with years of senior management experience

Northwest mobile unit to help those at heart of mental health, addiction crisis

Province, Northern Health unveils new unit in Terrace to bridge gaps in services

Move natural gas pipeline, MP suggests

Coastal GasLink could then avoid opposition

B.C. minister says rural internet is ‘railroad of the 21st century’

Jinny Sims talks details about the $50-million provincial and possible $750-million federal funds

Zero-interest student loans a huge relief: CMTN student union

Parliamentary secretary hears from Terrace students, alumni and staff

‘Families torn apart:’ Truck driver in fatal Broncos crash gets 8-year sentence

Judge Inez Cardinal told court in Melfort, Sask., that Sidhu’s remorse and guilty plea were mitigating factors

WestJet sticking with Boeing 737 Max once planes certified to fly

WestJet had expected to add two more of the planes this year to increase its fleet to 13

B.C. driver caught going 207 km/h on motorcycle along Okanagan Highway

A motorcyclist was caught by Kelowna RCMP going 207 km/h on Highway 97C

Protective human chain forms around B.C. mosque for Friday prayer

Vancouver Islanders stand arm-in-arm to show support in aftermath of New Zealand shootings

B.C. fire department offers tips to keep your home safe during wildfire season

With wildfire season getting closer, the Penticton Fire Dept. offer tips to keep your home safe

Fierce house cat spotted as ‘aggressor’ in face off with coyote in B.C. backyard

North Vancouver resident Norm Lee captures orange cat versus coyote in backyard showdown

Wilson-Raybould to reveal more details, documents on SNC-Lavalin affair

Former attorney general has written to the House of Commons justice committee

Anti-discrimination group wants to map offenders with cross-Canada hate atlas

Morgane Oger Foundation issues call for volunteers to help build Canadian Atlas of Populist Extremism

Kater to launch ridesharing service in Vancouver by end of month

The Surrey-based company got its permits from the Vancouver Taxi Association

Most Read