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The B.C. Assessment Authority has updated its searchable database, which means homeowners can now see what the value of their home was as of July 1, 2023.
The authority will be releasing full details of property value changes across the province on Jan. 2.
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To check your home’s value, go to bcassessment.ca and search under the address.
According to latest data from the Real Estate Board of Greater Vancouver, the average price of a home in the region increased just under five per cent between November 2022 and November 2023.
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The board also reported that home sales ticked up last month, as the continued increase of newly listed properties has given prospective homebuyers in the region one of the largest selections to choose from since 2021.
Andrew Lis, the board’s director of economics and data analytics, says the region has seen balanced market conditions since the summer, which are known to produce flatter price trends.
He says with most economists forecasting mortgage rates to fall modestly in 2024, market conditions for buyers “are arguably the most favourable we’ve seen in some time in our market.”
In July 2022, the priciest home in B.C. was at 3085 Point Grey Rd., which belongs to Lululemon founder Chip Wilson and was valued at $74,089,000, an increase of 1.3 per cent over the previous year.
According to the updated B.C. Assessment website, as of July 2023, the Wilson manse was valued at $81,765,000 — an increase of 10.4 per cent. In 2021, the home was valued at $73,147,000 — that was then a rise of 9.5 per cent.
dcarrigg@postmedia.com
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