A South Surrey property is among B.C.’s top-10 most expensive.
The 2020 assessment notices reflecting market value as of July 1, 2019 are en route to more than 1,040,000 Lower Mainland property owners, according to a news release from BC Assessment Thursday (Jan. 2),
According to BC Assessment, the 17146 20 Ave. site is valued at $31.52 million; just shy of one half of the value of the province’s most expensive property – the Kitsilano home of Lululemon founder Chip Wilson.
But while the value of Wilson’s property has dipped by 11 per cent since last year, to $64.94 million from $73.12 million, the South Surrey property all but held its value, dropping by just $80,000 – less than one per cent.
The figure falls well under BC Assessment’s calculation that properties across the province will see an average 2.5-per-cent decrease in 2020 – a drop that is expected to impact the most expensive regions the most.
According to examples used by BC Assessment, the value of single-family residential properties in Surrey is expected to drop by three per cent to $1,010,000 from $1,042,000 in 2019. A strata residential property is expected to drop by five per cent to $497,000 from $522,000 in 2019.
The city’s most expensive home, a South Surrey property, is 18 acres, with a 7,814-sq.-ft. home that was built in 1989. Last year, it was ranked the 13th most expensive in B.C. This year, it’s climbed to eighth place.
Here are the Surrey homes that made the top 500 valued properties in B.C.:
- 17146 20 Ave. — $31.52 million (ranked #8)
- 2021 Indian Fort Dr. – $17.94 million (ranked #80)
- 2165 123 St. – $13.54 million (ranked #195)
- 3022 176 St. – $11.4 million (ranked #399)
- 2940 190 St. – $10.31 million (ranked #479)
- 3338 194 St. – $10.21 million (ranked #489)
- 1788 168 St. – $10.14 million (ranked #500)
Also on the top 500 list is White Rock’s most expensive property, located at 13616 Marine Dr. As of July 1, 2018 decreased in value by just over $1.4 million, to $10,578,000 as of July 1, 2019, according to information at bcassessment.ca.
In White Rock, the 2020 typical assessed value of single-family residential properties is expected to drop by nine per cent, to $1,196,000 from $1,310,000 in 2019. A strata residential property is expected to drop by four per cent to $461,000 from $478,000 in 2019.
In Delta, the 2020 typical assessed value of single-family residential properties is expected to drop by nine per cent, to $917,000 from $1,003,000 in 2019. A strata residential property is expected to drop by four per cent to $545,000 from $568,000 in 2019.
No Delta properties made the top 500 list.