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As B.C.’s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
For the Lower Mainland region, the overall total assessments have increased from about $1.46 trillion in 2021 to about $1.75 trillion this year. Over $23.7 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties. BC Assessment’s Lower Mainland region includes all of Greater Vancouver, the Fraser Valley as well as the Sea to Sky area and the Sunshine Coast.
The summaries below provide estimates of typical 2021 versus 2022 assessed value changes of residential properties for each community throughout the region.
These examples demonstrate market trends for single-family residential properties by geographic area:*
|
Single Family Home Changes by Community |
2021 Typical Assessed Value
as of July 1, 2020 |
2022 Typical Assessed Value
as of July 1, 2021
|
% Change |
| City of Vancouver | $1,717,000 | $1,997,000 | +16% |
| University Endowment Lands | $4,923,000 | $5,461,000 | +11% |
| City of Burnaby | $1,449,000 | $1,725,000 | +19% |
| City of Coquitlam | $1,187,000 | $1,499,000 | +26% |
| City of Port Coquitlam | $944,000 | $1,233,000 | +31% |
| City of Port Moody | $1,265,000 | $1,627,000 | +29% |
| City of New Westminster | $1,119,000 | $1,388,000 | +24% |
| City of North Vancouver | $1,452,000 | $1,777,000 | +22% |
| District of North Vancouver | $1,578,000 | $1,932,000 | +22% |
| District of West Vancouver | $2,473,000 | $2,992,000 | +21% |
| District of Squamish | $1,026,000 | $1,386,000 | +35% |
| Resort Municipality of Whistler | $2,033,000 | $2,629,000 | +29% |
| Village of Pemberton | $945,000 | $1,151,000 | +22% |
| Bowen Island Municipality | $1,019,000 | $1,271,000 | +25% |
| Village of Lions Bay | $1,436,000 | $1,934,000 | +35% |
| Village of Belcarra | $1,319,000 | $1,746,000 | +32% |
| Village of Anmore | $2,013,000 | $2,372,000 | +18% |
| Town of Gibsons | $671,000 | $895,000 | +33% |
| District of Sechelt | $600,000 | $819,000 | +37% |
| City of Surrey | $1,063,000 | $1,420,000 | +34% |
| City of White Rock | $1,242,000 | $1,582,000 | +27% |
| City of Richmond | $1,405,000 | $1,699,000 | +21% |
| City of Delta | $968,000 | $1,285,000 | +33% |
| Township of Langley | $986,000 | $ 1,319,000 | +34% |
| City of Langley | $838,000 | $1,162,000 | +39% |
| City of Abbotsford | $778,000 | $1,077,000 | +38% |
| City of Chilliwack | $627,000 | $877,000 | +40% |
| City of Maple Ridge | $814,000 | $1,118,000 | +37% |
| City of Pitt Meadows | $843,000 | $1,126,000 | +34% |
| City of Mission | $706,000 | $962,000 | +36% |
| District of Kent | $526,000 | $710,000 | +35% |
| District of Hope | $428,000 | $620,000 | +45% |
| Harrison Hot Springs | $599,000 | $807,000 | +35% |
*All data calculated based on median values.
These examples demonstrate market trends for strata residential properties (e.g. condos/townhouses) by geographic area for select urban areas:*
|
Strata Home Changes (Condos/Townhouses)By Community |
2021 Typical Assessed Value
as of July 1, 2020 |
2022 Typical Assessed Value
as of July 1, 2021
|
% Change |
| City of Vancouver | $711,000 | $759,000 | +7% |
| City of Burnaby | $588,000 | $646,000 | +10% |
| City of Coquitlam | $562,000 | $631,000 | +12% |
| City of Port Coquitlam | $506,000 | $576,000 | +14% |
| City of Port Moody | $622,000 | $732,000 | +18% |
| City of New Westminster | $512,000 | $558,000 | +9% |
| City of North Vancouver | $690,000 | $762,000 | +10% |
| District of North Vancouver | $727,000 | $834,000 | +15% |
| District of West Vancouver | $1,156,000 | $1,327,000 | +15% |
| District of Squamish | $560,000 | $724,000 | +29% |
| Resort Municipality of Whistler | $931,000 | $1,154,000 | +24% |
| City of Surrey | $510,000 | $604,000 | +18% |
| City of White Rock | $452,000 | $528,000 | +17% |
| City of Richmond | $608,000 | $677,000 | +11% |
| City of Delta | $552,000 | $625,000 | +13% |
| Township of Langley | $543,000 | $676,000 | +24% |
| City of Langley | $382,000 | $459,000 | +20% |
| City of Abbotsford | $342,000 | $412,000 | +21% |
| City of Maple Ridge | $456,000 | $563,000 | +23% |
*All data calculated based on median values.
BC Assessment’s website at bcassessment.ca includes more details about 2022 assessments, property information and trends such as lists of 2022’s top valued residential properties across the province.
