Photo Credit: Jacob McNeil
The time has come and passed when every home owner in B.C. receives their Property Assessment Report. According to B.C. Assessments, residential property values went up almost everywhere on Vancouver Island, with the exception of Port Alberni at -1.45%. Lantzville saw the greatest increase at +7.70% (Lower Lantzville) and +8.60% (Upper Lantzville), and Ucluelet saw the lowest increase at +1.40%.
Commercial property values also went up in most areas with the exception of Ladysmith at -0.75%.
So, with all this positive momentum, which are the most highly valued homes? We did some digging and have compiled a list for you, highlighting our favourites from the top 100 highest valued properties on Vancouver Island (north of Victoria):
#4 - 1365 Dorcus Point Road, Nanoose Bay
Valued at $10,243,000, this 6.6 acre property located in the beautiful Beachcomber neighbourhood boasts a 3000 square foot home, with 3 bedrooms and 2 bathrooms, on an extremely private oceanfront estate.
#57 - 1374 Dorcas Point Road, Nanoose Bay
Valued at $4,930,000, this 7 acre oceanfront estate was listed for sale in 1996 by Nanaimo Realty at $3,000,000. After 367 days on market, the listing expired. We dare say the owners could ask for much more than that in this day and age. This property is located so that it receives full sun all day in the summer and exceptional views of Ballenas Island and the stormy seas of the Georgia Straight in the fall and winter months
#75 - 1574 Stewart Road, Nanoose Bay
Valued at $4,457,000, this property neighbours Moorecroft Regional Park and was last listed in 2000 by Coast Realty Group Ladysmith. The fortunate new owners purchased this 11 acre parcel of waterfront property, and its incomparable ocean views, for $275,000 under the original asking price after 257 days on the market.
#78 - 821 Eaglecrest Drive, Qualicum Beach
Valued at $4,393,000, this property was last listed by Coast Realty Group Nanaimo in 2003. This sprawling Qualicum Beach estate has it all: oceanfront, meadows, forests and gardens, all on 9 acres of prime property. The 5000 square foot home boasts 4 bedrooms and 3 bathrooms, a solarium, a pool, a barn, and a guest cottage.
#89 - 1475 Braiden Road, Tofino
Valued at $4,214,000, Braiden Road is an 18 acre parcel of land in Tofino, currently split-zoned for different types of single family rural accommodations on different sized parcels of land.
#92 - 11800 Elliot Way, Ladysmith
Valued at $4,164,000, this 8.5 acre ocean front estate in Ladysmith neighbours Elliot Beach Park and is extremely private. As far as we know, a single home resides on the gated property, tucked away in a grove of trees with its own private dock leading out onto the water. Google Maps didn't want to reveal much else to us, and something tells us the owners aren't parting with this beautiful property any time soon.
The Number One most valued property in the region of Vancouver Island is James Island, located off the coast of Sidney, valued at a staggering $51,621,000!
The highest valued residential property in Greater Vancouver is 3085 Point Grey Road, Kitsilano at $63,870,000
The highest valued residential property in the Fraser Valley is 17146 20th Avenue, Surrey at $16,148,000
The highest valued residential property in the Thompson Okanagan region is 2358 Hobson Road, Kelowna at $9,510,000
The highest valued residential property in the Kootenay Columbia region is 1734 3rd Avenue, Invermere at $5,253,000
The highest valued residential property in the Northern BC Region is 6653 Lakeshore Drive, Moberly Lake at $2,941,000
Some statistics from the B.C. Assessment Website:
Number of Properties Assessed: 1,996,112 (+1.06%)
Total Value of Real Estate: $1.34 trillion dollars (+11.1%)
Value of New Construction, Subdivisions and Rezonings: $20.36 billion dollars (+8.9%)
2,228,407 assessment notices were prepared for 2016
87.7% of all properties are classified as Residential
98.9% of property owners accepted their assessment without filing an appeal