January 2019 Market Update

Property values released by B.C. Assessment

B.C Assessment’s valuation of homes across the province, which is based on what was happening in the real estate market as of July 1 this year, was released this morning.

“It’s a real mix in property value changes, but the market can best be summed up as showing signs of stability across most areas of the province,” said assessor Tina Ireland, in a press release. “Changes in property assessments really depend on where you live. For example, assessed values for detached single family homes in many areas of Metro Vancouver may see a softening in value, while other markets and areas of the province will see modest increases over last year’s values.”

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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.


B.C. experienced ‘mild provincial housing recession’ in 2018: credit union

A financial services institution is forecasting an ongoing slowdown in British Columbia’s housing market, one day after the Canadian Real Estate Association predicted home sales will continue to dip in the province next year.

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B.C. Real Estate News

LOWER MAINLAND

City of Vancouver asks BC government to rescind ‘school tax’ on homes over $3 million (Daily Hive)

Empty homes are fraction of City of Vancouver estimate: report (BIV)

Short-term rentals plunge (Castanet)

Condominium market still ‘a lot better’ than normal in Vancouver suburbs (CTV News)

VICTORIA & VANCOUVER ISLAND

‘Mild recession’ in housing market to continue in B.C. in 2019: report (Times Colonist)

Vancouver Island real estate sales dipped 19% last year (Times Colonist)

Greater Vancouver, Vancouver Island see jump in assessed property values (Times Colonist)

SQUAMISH & WHISTLER

Whistler condo prices jumped 26.5 per cent in 2018 (Pique News Magazine)

Squamish and Vancouver housing trends diverge, but just for a little while (Squamish Chief)

OKANAGAN

South Okanagan real estate market continues cool down, moderating price gains (Infotel)

Regional real estate market decline continues (Kelowna Capital News)