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

Crash closes 32 Avenue in South Surrey

Police ask motorists to avoid area

White Rock 10-year-old hopes ‘horrible truth’ of war speech touches hearts

YouTube voting on Pratyaksha Awasthi’s speech ends March 29

OUR VIEW: Young Surrey athletes stir pride

Better than trophies are the lessons these sports-minded youngsters hopefully carry into adulthood

Pollinator conservation area aims to save bees directly, and through education

Bees’ survival is challenged around the world, but action is being taken to help them in Langley

Delta LGBTQ group receiving grant to screen doc about Surrey-raised murder victim

Sher Vancouver LGBTQ Friends Society is getting $4,000 to show award-winning short My Names Was January

The good, bad and the unknown of Apple’s new services

The announcements lacked some key details, such as pricing of the TV service

Coroner’s inquest announced for Victoria teen’s overdose death

Elliot Eurchuk was 16 years old when he died of an opioid overdose at his Oak Bay home

Military officer accused of sexual misconduct, drunkenness in B.C., Alberta

Warrant Officer Jarvis Kevin Malone is charged under the National Defence Act

Stranger climbs onto B.C. family’s second-floor balcony, lights fire in barbecue

Incident in Abbotsford terrifies family with two-year-old boy

Harbour Air to convert to all-electric seaplanes

Seaplane company to modify fleet with a 750-horsepower electric motor

VIDEO: Teenage girl was person killed in three-vehicle crash in Coquitlam

Police are investigating the fatal crash at Mariner Way and Riverview Crescent

Sailings cancelled after BC Ferries boat hits Langdale terminal

The Queen of Surrey is stuck on the dock, causing delays to Horseshoe Bay trips

5 to start your day

Fatal crash in Coquitlam, stranger climbs onto balcony and lights fire, and more

Eviction halted for B.C. woman deemed ‘too young’ for seniors’ home

Zoe Nagler, 46, had been given notice after living in the seniors complex in Comox for six years

Most Read