Third 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 Jason Grant explains, "residential market movement within the City of Vancouver from July 1, 2015 to July 1, 2016 has been significant and is consistent with the rate of change in most Lower Mainland communities. Increases of 30-50 per cent are typical for single-family homes and strata residential increases are in the 15 to 30 per cent range."
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).