Salt Spring and Gulf Islands Real Estate Values Rise 5%
In the next few days, owners of more than 374,600 properties throughout Vancouver Island can expect to receive their 2020 assessment notices, which reflect market value as of July 1, 2019.
"The market has stabilized in most areas of Vancouver Island this year," says Vancouver Island Assessor Tina Ireland. "In the south part of Vancouver Island, the majority of residential property values are moving -5% to +5%, while up island the value increases are a little higher. The commercial and industrial markets are generally showing increases over last year's assessments."
BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, Vancouver Island's total assessments increased from about $246 billion in 2019 to $255 billion this year. A total of almost $4.14 billion of the region's updated assessments is from new construction, subdivisions and rezoning of properties. BC Assessment's Vancouver Island region includes all communities located within …
Read more
about Salt Spring and Gulf Islands Real Estate Values Rise 5%