Tip:
Highlight text to annotate it
X
Hello, I'm Grant McDonald, I'm one of the Deputy Assessors in the Vancouver Sea to
Sky regional office
Our area of responsibility includes the city of Vancouver,
the North Shore communities, up the Sunshine Coast, and the Whistler, Pemberton, Squamish sea to sky corridor
What we're seeing this year overall, if I can characterize the market for our regions,
is pretty much a flat or a stable market
This year there's been a lot of coverage in the media and the press about the
amount of, how much the market has changed in terms of the sales volume
and what we want to do is be clear that the sales volume is one thing
but it's not the same as the market transaction price, which is what BC Assessment is interested in
Our assessment valuation date is the first of July
and the market has been pretty flat and relatively stable over that period of time
Just to illustrate the change in the volume
I wanted to tell you a little bit about the Vancouver market, which is our area nine
Last year we had 3,300 single-family dwelling sales
This year the decline in the volume is down by almost thirty five percent
The stratas haven't dropped as much in terms of the number of transactions-
probably about thirteen percent. In area eight, which would include the North Shore communities and the city and district
of North Vancouver
the number there for single family is down about twenty six percent
and stratas are off about eleven percent
But overall most of the markets in terms of value
are going to be a minus five to plus five range. That's where you'd expect most people
residentially to be impacted this year
West Vancouver would be one of the areas that is bucking the trend
It's probably going to see an increase of about zero to fifteen percent overall
And another small area that would experience
something of a slightly different trend
is the university endowment lands
There's about four hundred folios there that
are going to be going up
between zero and ten percent. Now the market this year is pretty much a flat,
stable market. There were a lot of early sales in the first two quarters, up to
July the first period. That's key to remember that date because that's our evaluation date, so if and when you
have any questions about your assessment notice this year
which we're mailing as always- they'll be out in the first week of January-
You should recall and remember
that July the first is the date you should be looking at if you want to do any comparisons between what your property is worth, what your neighbours are valued at this year, and indeed, the sales transactions
All of that information is and will be available on our website
at bcassessment.ca And there you can avail yourselves of some of the
many tools that we have available, such as e-valueBC. You could look, for example
at what your property is assessed at this year. You can compare it to your neighbours' property. You can look at some of the sales that have happened down the street
And of course you don't need to do that during office hours. You can do that at any time you like. You will also have, as always, individuals in the offices available to help you with any questions that you have, just call the 1-800 number that's on your assessment notice. Thank you.