Though assessed values of residential and other property don’t necessarily reflect selling prices, they’re a good barometer of local market conditions, and whether home values are rising, falling or remaining relatively flat.
By Right Sizing Staff
This year there are more than 2 million properties on the BC Assessment rolls–residential single-family homes and strata units, plus industrial and commercial properties–a number that grew one per cent last year. With $27 billion in new construction, B.C.’s total real estate value of almost 2 trillion was relatively flat, with a two-and-a-half per cent decline province wide. This BC Assessment 2020 data reflects assessed home values as of July 1, 2019, when many right-sized cities and towns were already showing stable or slightly lower values, making 2020 an excellent time to make your move.