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

Ashcroft under Boil Water Notice

High turbidity levels in the Thompson River have prompted the notice

Prescribed burns to take place around Lytton, Spences Bridge

BC Wildfire Service will only conduct burns if conditions permit

Flooding hits Highway 97 north of Cache Creek

Recent warm temperatures are causing an increase in flooding on area roads

Elizabeth May feels people are looking at the Green Party with new eyes

Green Party leader is hoping for a breakthrough for her party in the October federal election

Cache Creek Softball Association gears up for another season

Organizers are looking for people of all ages from throughout the area

Sparks fly as SUV speeds down wrong side of Highway 1 trying to flee RCMP

Captured on video, the vehicle headed westbound against oncoming traffic before crashing

Story of Wet’suwet’en Chief Alfred Joseph being told

Song of the Earth on Chief Gisday’wa will be launched in Hagwilget

Houston woman gets two years for aggravated assault

Ewald pleads guilty; trial of co-accused Calvin Dyrland begins in Smithers B.C. court

Fundraising campaign launched for man caught in SilverStar avalanche

In only two days, the GoFundMe surpassed its $15,000 goal

Terror at sea: Helicopter rescues frightened cruise passengers in Norway

The Viking Sky cruise ship was carrying 1,300 passengers and crew when it experienced engine trouble

Search and rescue team helicopters injured climber from B.C. provincial park

A 30-year-old woman suffered a suspected lower-limb fracture in Skaha Bluffs Provincial Park

DOJ: Trump campaign did not co-ordinate with Russia in 2016

Attorney General William Barr said special counsel “does not exonerate” Trump of obstructing justice

Trudeau in Vancouver to support Tamara Taggart at Liberal nomination event

The former broadcaster is seeking the nomination for the Vancouver Kingsway riding

Trudeau calls May 6 byelection for B.C. riding of Nanaimo-Ladysmith

The riding opened up when Sheila Malcolmson resigned in January

Most Read