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

Surrendered Comox Valley cats nearing adoption through SPCA

Community rallies with dozens of offers of adoption

Shawnigan Lake residents rally to rebuild memorial bus shelter

Nick’s Stop is a reminder for all to slow down

Purple Day marks long journey for Gorge resident

Legislative Assembly to recognize epilepsy on Tuesday

Ice climbers scale Canada’s tallest waterfall on Vancouver Island

Ice climbers Chris Jensen, Will Gadd and Peter Hoang made history

Tofino woman beseeches town for nude beach

“They may enjoy a surf and then walk around naked and just be free.”

Prime Minister Trudeau comes campaigning in Nanaimo

A day after announcing a May 6 byelection date for Nanaimo-Ladysmith, Justin Trudeau visits city

Inspirational Vancouver Island youngster dies after battle with brain cancer

Kaiden Finley ‘was seriously the strongest 11-year-old’

Indecent caller handed 18-month conditional sentence

Vancouver Island man pleaded guilty to making indecent phone and video calls to women across B.C.

Is it a homicide? B.C. woman dies in hospital, seven months after being shot

Stepfather think Chilliwack case should now be a homicide, but IHIT has not confirmed anything

Victoria Police Department’s K9s help make three arrests

Police Services Dogs Alpha and Zender have had a busy few weeks

Victoria crash threatens shipyard’s schedule for new coast guard ships

Delivery of the vessel was already years overdue

First Nations public art piece stolen in Nanaimo

Spindle Whorl went missing over the weekend, according to Nanaimo RCMP

Flu outbreak hits several facilities from Victoria to Parksville

42 people diagnosed at facility since March 15

Sources say Trudeau rejected Wilson-Raybould’s conservative pick for high court

Wilson-Raybould said Monday “there was no conflict between the PM and myself”

Most Read