B.C. housing market shows signs of moderation: assessment agency

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year

Assessed values of some single family homes in Metro Vancouver’s once red hot housing market dropped between five and 10 per cent in the latest assessments used to determine property taxes in British Columbia.

Meanwhile, BC Assessment says some property owners in the rest of the province have seen five to 15 per cent increases in their property values.

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year.

Commercial and industrial properties saw an increase of between 10 and 20 per cent across most of the province, with some markets around Metro Vancouver increasing up to 30 per cent.

BC Assessment collects, monitors and analyzes property data.

Its assessments are based on the estimate of a property’s market value on July 1 of each year and its physical condition on Oct. 31.

Deputy assessor Keith MacLean-Talbot says increases in property assessments do not automatically translate into a corresponding increase in property taxes.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Chilliwack Centre of Excellence paddlers make national teams

The CCE athletes battled through four heats at Canadian team trials in Oklahoma.

OPINION: When observation affects what is observed

I’m aware that covering criminal court proceedings can impact lives and sometimes the proceedings too

Crown seeking 30 months for Abbotsford vehicle theft, flight from police, Chilliwack crash

Michael Joseph Hasell has 47 criminal convictions on his record in B.C. and Alberta

BC Ferries to pilot selling beer and wine on select routes

Drinks from select B.C. breweries and VQA wineries to be sold on Swartz Bay to Tsawwassen route

Rainfall warning: Up to 70 mm expected across Fraser Valley

Environment Canada issued a weather warning heading into the long weekend

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Man driving wrong way on Highway 17 ‘seriously’ injured after crash: Surrey RCMP

Police say the driver hit a transport truck, then another car after merging from the off-ramp onto highway

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Police pursue pesky porker on Vancouver Island

‘This was allegedly not the pig’s first escape’

Rare ‘Snow Tower’ tree blooming in Vancouver city park

A plant rarely grown in Canada is now flowering at the Bloedel Conservatory in Queen Elizabeth Park

Westjet tries again to dismiss proposed class-action lawsuit alleging discrimination

Former flight attendant claims airline broke contractual promise to create harassment-free workplace

Most Read