Greater Vancouver Property Value Increase

vancouver-property-value-increase-alpine-creditsEach New Year brings planning, resolutions, holiday bills and BC tax assessments.  As Vancitybuzz reports, this year’s tax assessment values were quite surprising with a whopping $90 billion increase in value of properties in the greater Vancouver area.  East Vancouver homes were amongst the biggest earners in property value as homeowners experienced a growth rate of about 28%.  In addition, neighborhoods stretching from Coquitlam to Squamish saw values grow by over 20%.

From these latest statistics, British Columbia seems to be a strong market overall with the total number of homes on the BC Assessment reaching a value of $1.34 trillion, an overall increase of about 11% from this time last year.  As a reference for you, we have included a table that shows the increases in property values by area (see below).

With property values going up, you should have more equity in your home and that may make it a good time to reach out to your friends at Alpine Credits if you are in need of additional funds to consolidate some debts, pay off any outstanding taxes or start (or complete) some home renovations.  Please feel free to call us at 1-800-587-2161 and one of our lending specialists will be glad to discuss all of the loan options that may be available to you. Remember, at Alpine Credits homeowners get APPROVED!

Article from Vancitybuzz by Jill Slattery.
(Greater Vancouver Real Estate Assessments Grew by $90 Billion in 2015)

Muncipality /
Neighborhood
(year built)
2015 Assessment Roll
(marked value
as of July 1, 2014)
2016 Assessment Roll
(marked value
as of July 1, 2015)
% Change
in Value
(2016 vs 2015)
City of Vancouver
West Side Single-Family-33′ Lot, 1964 1,575,000 1,940,000 +23%
East Side Single-Family-33′ Lot, 1983 993,000 1,267,000 +28%
West Side Strata Low-rise, 2002 615,000 662,000 +8%
East Side Strata Low-rise, 2003 381,000 405,000 +6%
City of North Vancouver
Boulevard Single-Family, 1908 1,006,000 1,137,000 +13%
Hamilton Single-Family, 1950s 1,226,000 1,466,000 +20%
Lower Lonsdale Strata Townhouse, 1995 692,000 729,000 +5%
Central Lonsdale Strata High-rise, 2001 317,000 333,000 +5%
District of North Vancouver
Blueridge Single-Family, 1961 895,000 1,063,000 +19%
Lynn Valley Single-Family, 1971 993,000 1,126,000 +13%
Upper Lonsdale Strata Low-rise, 1990 414,000 441,000 +7%
Lynn Valley Strata Townhouse, 1979 583,000 628,000 +8%
District of West Vancouver
Ambleside Single-Family, 1948 1,856,000 2,144,000 +16%
Waterfront Single-Family, 1967 3,542,000 4,380,000 +24%
Altamont Strata Townhouse, 2001 1,139,000 1,210,000 +6%
Dundarave Strata Low-rise, 1995 1,024,000 1,094,000 +7%
District of West Squamish
Garibaldi Highlands Single-Family, 1964 543,000 667,000 +23%
Downtown Single-Family, 1950 366,000 432,000 +18%
Garibaldi Estates Strata Townhouse, 2002 324,000 374,000 +15%
Garibaldi Estates Strata Low-rise, 1992 183,000 192,000 +15%
Resort Municipality of Whistler
Whistler Cay Single-Family, 1996 1,989,000 2,330,000 +17%
Alpine Meadow Single-Family, 1950 954,000 1,138,000 +19%
Village Strata Townhouse, 1997 521,000 550,000 +6%
Blackcomb Benchlands Strata Townhouse, 1995 672,000 703,000 +5%
City of Burnaby
Capitol Hill Single-Family, 1946 760,000 937,000 +23%
Buckingham Single-Family, 1971 1,470,000 1,862,000 +27%
Metrotown Strata High-rise, 1992 480,000 511,000 +6%
Sullivan Heights Strata Townhouse, 1972 398,000 433,000 +9%
City of Coquitlam
Central Coquitlam Single-Family, 1980’s 852,000 1,000,000 +17%
Westwood Plateau Single-Family, 1992 848,000 1,021,000 +20%
Town Centre Strata High-rise, 2009 342,000 375,000 +10%
Maillardville Strata Townhouse, 1989 351,000 377,000 +7%
City of Port Coquitlam
Citadel Heights Single-Family, 1990’s 705,000 805,000 +14%
Lincoln Park Single-Family, 1970’s 534,000 620,000 +16%
Downtown, Strata Low-rise, 2007 260,000 280,000 +8%
Citadel Strata Townhouse, 1994 496,000 520,000 +5%
City of Port Moody
Hertiage Woods Single-Family, 1997 1,150,000 1,349,000 +17%
North Shore Single-Family, 1970’s 873,000 1,019,000 +17%
Newport Strata High-rise, 2005 353,000 394,000 +12%
Newport Strata Low-rise, 1996 357,000 414,000 +16%
City of New Westminister
Queen’s Park Single-Family, 1910’s 1,076,000 1,209,000 +12%
Sapperton Single-Family, 1960’s 776,000 909,000 +17%
Sapperton Strata High-rise, 1992 415,000 436,000 +5%
Brow of the Hill Strata Low-rise, 1993 301,000 335,000 +11%