Fourth Quarter 2016
July 1st marks the date BC Assessment estimates the annual market value of properties in B.C. To estimate these values as of each July 1st, BC Assessment's professional appraisers analyze current sales in the local area evaluating all factors that buyers and sellers would consider. Some of these factors include a property's size, age, quality, condition, view and location. Learn more about how we assess properties.
BC Assessment's Regional Assessor Tina Ireland explains, "The City of Victoria real estate market saw less activity as the number of sales fell in the fourth quarter, which is typical for this time of year. Demand remains strong as prices, and thus the change in market value, continued in a positive direction. Typical single family dwellings show increases to 30% from July 1 2015 and residential strata units with increases around 25%."
Market movement chart (PDF).
The "Change in Market Value" percentages compare all quarters to the second quarter of 2015.
The number of sales in the most recent quarters will increase as sales continue to be registered at the Land Titles and Survey Authority (LTSA).