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

Lumby featured on CBC show Still Standing

Filming concludes Friday with a comedy show at the White Valley Community Centre.

Author gives presentation on life in remote Nepal at Caetani House

Author Dorje Dolma presents her book Yak Girl: Growing Up in the Remote Dolpo Region of Nepal on Friday, Feb. 1 at 7 p.m. at Caetani Centre in Vernon.

Three Vernon-area organizations receive provincial grants

The province is providing a total of $673,124 in project development grants to support rural communities throughout B.C.

Armstrong healthcare society recruiting physician

One doctor moves to Australia; Haugen Healthcare Society looking to fill void

Shuswap Insurance Brokers joins SASCU Financial Group

Shuswap Insurance staff and location in Enderby will remain the same.

Rare ‘super blood wolf moon’ takes to the skies this Sunday

Celestial event happens only three times this century

Scientists ID another possible threat to orcas: pink salmon

For two decades, significantly more of the whales have died in even-numbered years than in odd years

B.C. dangerous offender in court for violating no-contact order, sends letter to victim

Wayne Belleville was shocked to see a letter addressed to him from his shooter, Ronald Teneycke

Judge denies requests from Calgary couple charged in son’s death

David and Collet Stephan wanted $4 million to pay for past and future legal bills

Explosion sends B.C. firefighter to hospital

Kelowna fire crews responded to a blaze at Pope’sGallery of BC Art & Photography on Friday

Ex-Mountie investigating ‘Surrey six’ murders pleads guilty to obstruction

Derek Brassington entered his plea in B.C. Supreme Court on Friday

Man blames his loud car radio, sirens for crash with B.C. ambulance

Tribunal rejects bid to recoup ICBC costs after crash deemed 100-per-cent his fault

RECALL: Salmon Village maple salmon nuggets

Customers warned not to eat product due to possible Listeria contamination

More than 100,000 toxic toys named in Canada-wide recall

Plastic doll contains levels of phthalates over allowable limit and may pose chemical hazard

Most Read