Assessed property values stabilize in parts of B.C. including Metro Vancouver
BNN Bloomberg
The latest housing assessment figures in British Columbia show residential property prices have stabilized in several provincial housing markets.
BC Assessment says changes in Metro Vancouver have been "notably less" than previous years, with only single-family homes in the Village of Belcarra seeing a shift greater than five per cent with a nine per cent increase for a typical family home to just over $2 million.
The assessed value of a single-family home in Vancouver which reflected the market on July 1, 2023, rose four per cent to just above $2.2 million, while strata properties remained nearly unchanged at $807,000.
In the Lower Mainland, the Sunshine Coast, Greater Victoria and the Okanagan only single-home values at three communities saw change exceeding five per cent, with Sechelt and Harrison Hot Springs both down six per cent while Hope dropped by 13 per cent.
