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Greater Vancouver Property Value Increase

Each 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, 19641,575,0001,940,000+23%
East Side Single-Family-33′ Lot, 1983993,0001,267,000+28%
West Side Strata Low-rise, 2002615,000662,000+8%
East Side Strata Low-rise, 2003381,000405,000+6%
City of North Vancouver
Boulevard Single-Family, 19081,006,0001,137,000+13%
Hamilton Single-Family, 1950s1,226,0001,466,000+20%
Lower Lonsdale Strata Townhouse, 1995692,000729,000+5%
Central Lonsdale Strata High-rise, 2001317,000333,000+5%
District of North Vancouver
Blueridge Single-Family, 1961895,0001,063,000+19%
Lynn Valley Single-Family, 1971993,0001,126,000+13%
Upper Lonsdale Strata Low-rise, 1990414,000441,000+7%
Lynn Valley Strata Townhouse, 1979583,000628,000+8%
District of West Vancouver
Ambleside Single-Family, 19481,856,0002,144,000+16%
Waterfront Single-Family, 19673,542,0004,380,000+24%
Altamont Strata Townhouse, 20011,139,0001,210,000+6%
Dundarave Strata Low-rise, 19951,024,0001,094,000+7%
District of West Squamish
Garibaldi Highlands Single-Family, 1964543,000667,000+23%
Downtown Single-Family, 1950366,000432,000+18%
Garibaldi Estates Strata Townhouse, 2002324,000374,000+15%
Garibaldi Estates Strata Low-rise, 1992183,000192,000+15%
Resort Municipality of Whistler
Whistler Cay Single-Family, 19961,989,0002,330,000+17%
Alpine Meadow Single-Family, 1950954,0001,138,000+19%
Village Strata Townhouse, 1997521,000550,000+6%
Blackcomb Benchlands Strata Townhouse, 1995672,000703,000+5%
City of Burnaby
Capitol Hill Single-Family, 1946760,000937,000+23%
Buckingham Single-Family, 19711,470,0001,862,000+27%
Metrotown Strata High-rise, 1992480,000511,000+6%
Sullivan Heights Strata Townhouse, 1972398,000433,000+9%
City of Coquitlam
Central Coquitlam Single-Family, 1980’s852,0001,000,000+17%
Westwood Plateau Single-Family, 1992848,0001,021,000+20%
Town Centre Strata High-rise, 2009342,000375,000+10%
Maillardville Strata Townhouse, 1989351,000377,000+7%
City of Port Coquitlam
Citadel Heights Single-Family, 1990’s705,000805,000+14%
Lincoln Park Single-Family, 1970’s534,000620,000+16%
Downtown, Strata Low-rise, 2007260,000280,000+8%
Citadel Strata Townhouse, 1994496,000520,000+5%
City of Port Moody
Hertiage Woods Single-Family, 19971,150,0001,349,000+17%
North Shore Single-Family, 1970’s873,0001,019,000+17%
Newport Strata High-rise, 2005353,000394,000+12%
Newport Strata Low-rise, 1996357,000414,000+16%
City of New Westminister
Queen’s Park Single-Family, 1910’s1,076,0001,209,000+12%
Sapperton Single-Family, 1960’s776,000909,000+17%
Sapperton Strata High-rise, 1992415,000436,000+5%
Brow of the Hill Strata Low-rise, 1993301,000335,000+11%