Following a bustling spring and summer of market activity, owners of single-family detached homes in Greater Vancouver can expect to see significant increases in the value of their properties when they open BC Assessment notices in January.
Assessor Jason Grant said that jumps of 15% to 25% will be typical for single-family homes in the Lower Mainland, while the average strata residential increase will be a more moderate 5% to 10%. Meanwhile, the Canadian Real Estate Association reported last week that Greater Vancouver house prices in September were up 13.7% year-over-year.
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