Property values in BC remain stable
Posted January 2, 2014 12:44 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – For the second year in a row, home assessments around the province have remained stable.
However, there are a few exceptions.
“Stratas were fairly flat in terms of the market shift but there were some areas… Richmond, North Shore where there was a decline. You can also add that Richmond single family dwellings saw a bit of a decline anywhere in the range of five, six, or seven per cent,” explains Deputy Assessor Craig Barnsley.
He notes other areas of change include waterfront properties. “[There were] some residential increases in valuation, [such as] Pemberton — you could say ten per cent — and Belcarra…. generally, waterfront properties saw increases in the range of ten to fifteen per cent.”
Barnsley says for the most part, the values around Metro Vancouver and the Lower Mainland didn’t change except in areas of major residential development, like Surrey City Central.
“You’d also find it in the development areas in Vancouver along the Broadway Corridor and the Cambie Corridor and so on. Those values continue to hold and show increases.”
Lululemon founder Chip Wilson’s home in Kitsilano was assessed with the highest value in the province at $54,206,000.
