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Wes Kroeker

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January 2021 Market Update

 

B.C. Assessment updates 2020 valuations, showing big increases for property owners

The B.C. Assessment Authority released its online record of property valuations for 2020 without the usual fanfare.

Traditionally around New Year's Day, the Crown corporation issues a media release showing the percentage increases in values across different residential property types in different parts of B.C.- plus the total assessed value of all residential property in the province.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

Home Owner Grant threshold set for 2021 tax year

The 2021 Home Owner Grant threshold is set at $1.625 million, ensuring the same percentage of British Columbia homeowners continue to be eligible.

New in 2021, the Province is taking over full administration of the grant program to ease the burden on municipalities. The Province already administers the grant for rural

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B.C. Real Estate News

BRITISH COLUMBIA

With rising property values, B.C. changes eligibility for homeowner grant (CTV News)

How much pressure will an increased Empty Homes Tax put on Vancouver's mortgage holders? (Mortgage Broker News)

B.C.'S Best Performing Real Estate Markets Are Underperforming The National Average (Better Dwelling)

Consumer spending and real estate boost B.C.'s financial outlook (Vancouver Sun)

Prices surge for B.C. recreational properties as people 're-evaluate their lifestyle' (Vancouver Sun)

LOWER MAINLAND

West Van, North Van home assessments up 5 to 7% in unusual real estate year (North Shore News)

Greater Vancouver, Fraser Valley real estate boards report 50,870 homes sold in record-setting 2020 (Georgia Straight)

Vancouver real estate: Home sales surge 53.4%, setting new record (CTV News)

Record-shattering December caps unexpected year in Fraser Valley real estate (Global Newswire)

Predictions 2021: Demand for housing will remain high in Metro Vancouver (Georgia Straight)

Vancouver real estate: detached homes priced below $1.5 million benchmark show some affordability left in market (Georgia Straight)

B.C. real estate: Markets outside Vancouver driving detached home sales (Vancouver Sun)

Vancouver Real Estate Prices Diverge, As Detached Homes Soar While Condos Plummet (Better Dwelling)

WHISTLER & SQUAMISH

Squamish property values up despite pandemic (Squamish Chief)

Over 200 rental units approved to be built in Squamish (Squamish Chief)

VICTORIA & VANCOUVER ISLAND

Greater Victoria assessment values increase due to housing demand (Times Colonist)

Home values surge across Greater Victoria (Saanich News)

The 2020 Victoria Real Estate market year in review (Business Examiner)

Top 10 list: Greater Victoria's largest commercial sales in 2020 (Victoria News)

Victoria real estate market remains hot despite pandemic (CTV News)

OKANAGAN

Kelowna no longer home to the Okanagan's most expensive property (Kelowna Now)

Home prices rose after July 1st assessment valuation date (Kelowna Daily Courier)

Home values 'moderately increase' in Thompson, Okanagan region (Global News)

 
 

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