STEVEN TSE PERSONAL REAL ESTATE CORPORATION
  • PROPERTIES
    • FEATURED LISTINGS
    • SOLDS
  • SERVICES
    • SELLERS
    • BUYERS
  • NEWS
  • CONNECT
    • MEET STEVEN
    • CONTACT
  • RESOURCES
    • TESTIMONIALS

Lower Mainland property assessments up $50 billion

1/4/2021

 
Picture
HAYLEY WOODIN (BUSINESS IN VANCOUVER) - Owners of more than one million properties in the Lower Mainland can expect “moderate” increases in value on their 2021 assessment notices, according to BC Assessment. 

"Despite COVID-19, the Lower Mainland residential real estate market has been resilient," noted BC Assessment deputy assessor Bryan Murao in a news release.

"For the most part, homeowners can expect relatively moderate increases in value. This incredible strength is a stark contrast to last spring when the market came to a temporary standstill whereas the remainder of the year had a very steady and rapid recovery.”

Total assessments for the Lower Mainland have increased by about $50 billion in value year over year, to $1.46 trillion in 2021 from $1.41 trillion in 2020.

The majority of single-family and strata homes in the region will see increases between 0% and 10% on their assessments, which should be received in the days ahead.

At the top of the range are single-family homes in the City of Vancouver and the District of Squamish (+10%), followed by detached homes on Bowen Island, (+9%) and in Pemberton, Mission and Port Coquitlam (+8%).

According to data from BC Assessment, condos in the District of North Vancouver will see the greatest change in value (+6%), followed by strata units in the City of North Vancouver and Maple Ridge (+5%).

Strata homes in the City of White Rock (-2%) and single-family homes on University Endowment Lands (-1%) are the only property categories that saw overall decreases in value. 

At the provincial level, the total value of residential real estate rose 4.2% year over year, to $2.01 trillion.
​
BC Assessment notices reflect changes in the estimated market value of properties from July 1, 2019 to July 1, 2020.

Comments are closed.

    Market Update

    Updates on Real Estate news happening in your city. 

    Archives

    January 2023
    November 2022
    October 2022
    September 2022
    August 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    February 2021
    January 2021
    November 2020
    October 2020
    August 2020
    July 2020
    May 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    September 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    Categories

    All
    Architecture
    Banking & Mortgage
    City Development
    City Events
    Home Staging
    Market Trends
    Project Presales
    Strata
    Supportive Housing
    Vancouver Heritage

  • PROPERTIES
    • FEATURED LISTINGS
    • SOLDS
  • SERVICES
    • SELLERS
    • BUYERS
  • NEWS
  • CONNECT
    • MEET STEVEN
    • CONTACT
  • RESOURCES
    • TESTIMONIALS