The value of single-family homes in Delta increased by 33 per cent for 2022, according to data released by BC Assessment Tuesday (Jan. 4).
In the next few days, over one million Lower Mainland property owners will be receiving their 2022 assessment notices, which reflect market value as of July 1, 2021.
According to BC Assessment, single-family property values in the Lower Mainland region — which includes Greater Vancouver, the Fraser Valley, the Sea to Sky area and the Sunshine Coast — went up between 11 and 45 per cent (UBC Endowment Lands and Hope, respectively), while the value of strata residential properties (e.g. condominiums and townhomes) increased by seven to 29 per cent (Vancouver and Squamish, respectively).
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In Delta, the typical assessed value of a single-family home jumped by 33 per cent, from $968,000 to $1,285,000. The typical assessed value of a strata residential home, meanwhile, rose by 13 per cent, from $552,000 to $625,000.
2022 property assessments are currently available online at bcassessment.ca.
Overall, the total value of real estate in the Lower Mainland rose by almost 20 per cent compared to 2021 — from about $1.46 trillion in 2021 to about $1.75 trillion — with more than $23.7 billion of the region’s updated assessments coming from new construction, subdivisions and the rezoning of properties.
“British Columbia’s real estate market remains highly active and that means most property owners can expect higher assessment values for 2022,” BC Assessment deputy assessor Bryan Murao said in a press release. “The widely reported heightened demand among homebuyers during the COVID-19 pandemic is reflected in the upward movement of property values across the province.”
“Similarly, commercial and industrial properties across the province continue to show signs of recovery,” Murao added.
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Based on 2022 property assessments, the city’s most valuable home is a half-acre property located at 436 Centennial Parkway in Tsawwassen. The 6,183-square-foot five-bedroom/eight-bathroom home, built in 2013, is valued at $6,865,000 ($4,819,000 for the land and $2,046,000 for the buildings). That’s a 12.5 per cent increase over the property’s 2020 assessed value of $6,101,000 ($4,264,000 for the land and $1,837,000 for the buildings).
Seven of the 10 highest-assessed homes in Delta are located in Tsawwassen, two in East Ladner and another in Ladner near the Highway 99/17A interchange.
The 10 highest-assessed residential properties are:
• 436 Centennial Pky. — $6,865,000 (+12.5 per cent of 2021 value)
• 10131 Ladner Trunk Rd. — $6,337,000 (+2,738.2 per cent of 2021 value)
• 483 English Bluff Rd. — $6,007,000 (+9.4 per cent of 2021 value)
• 515 English Bluff Rd. — $5,640,000 (+4.3 per cent of 2021 value)
• 395 English Bluff Rd. — $5,294,000 (+4.0 per cent of 2021 value)
• 5737 64th St. — $4,942,000 (+957.9 per cent of 2021 value)
• 746 Tsawwassen Beach Rd. — $4,832,000 (+16.2 per cent of 2021 value)
• 6003 104th St. — $4,824,000 (+10.3 per cent of 2021 value)
• 1019 Pacific Dr. — $4,727,000 (+8.3 per cent of 2021 value)
• 748 Tsawwassen Beach Rd. — $4,664,000 (+8.0 per cent of 2021 value)
The highest-assessed property in North Delta is a six-bedroom/four-bathroom home in the Panorama Ridge neighbourhood. Built in 1997, the 6,879-square-foot home sits on a half-acre lot at 11932 Clark Dr. Its 2022 assessed value is $3,624,000 ($2,022,000 for the land and $1,602,000 for the buildings), up 32.3 per cent from its 2021 assessed value of $2,739,000 ($1,775,000 for the land and $964,000 for the buildings).
The 10 highest-assessed residential properties in North Delta are:
• 11932 Clark Dr. — $3,624,000 (+32.3 per cent of 2021 value)
• 11695 Summit Cres. — $3,348,000 (+30.2 per cent of 2021 value)
• 5455 120th St. — $2,867,000 (+21.7 per cent of 2021 value)
• 11950 Clark Dr. — $2,168,000 (+23.5 per cent of 2021 value)
• 6620 Cabeldu Cres. — $2,810,000 (+29.4 per cent of 2021 value)
• 6629 Kempson Cres. — $2,794,000 (+29.4 per cent of 2021 value)
• 6787 Ryall Cres. — $2,731,000 (+67.0 per cent of 2021 value)
• 11363 Bond Blvd. — $2,695,000 (+38.7 per cent of 2021 value)
• 6573 Knight Dr. — $2,671,000 (+28.8 per cent of 2021 value)
• 6612 Kempson Cres. — $2,661,000 (+28.4 per cent of 2021 value)
SEE ALSO: Chip Wilson’s pad, a Rock House and an island: Here are the most expensive homes in B.C.
editor@northdeltareporter.com
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