News

Burnaby property valuation increases

Burnaby’s property assessments jumped by $300 million to a total value of $66.682 billion as of July 1, 2012.

However, according to figures released by the BC Assessment Authority on Wednesday, Burnaby’s most expensive residential single-family neighbourhood dropped in value. A typical 1970s home in Buckingham went from an average assessment of $1,842,000 on July 1, 2011 to $1,820,000 in 2012. The second-most expensive, though, did go up with North Burnaby’s Kensington area going from $1,500,000 to $1,542,000.

Other single-family examples cited by the authority in Burnaby show the Forglen area, just north of Metrotown, jumping from $998,000 to $1,014,000, Vancouver Heights rising from $933,000 to $977,000, and Westridge nominally increasing from $939,000 to $945,000.

The largest increases percentage wise go to the areas in the lower end of the price ranges cited by the authority with South Slope’s prices jumping $53,000 from $767,000 to $820,000 and Capitol Hill increasing by $51,000 from $683,000 to $734,000.

“Most homes in the North Fraser region are relatively similar in value compared to last year’s assessment roll,” said deputy assessor Zina Weston of the Burnaby-based regional office in a press release. “Most single family home owners will see modest changes in the minus-five per cent to plus-10 per cent range.”

Most strata residential properties have seen changes in the minus-10 per cent to plus-10 per cent range, said the release.

In North Burnaby, a two-bedroom in a 20-year-old high rise dropped in average assessment from $447,000 to $425,000 while a 40-year-old three bedroom townhouse rose from $355,000 to $379,000. A two-bedroom condo in a high rise at Simon Fraser University went up from $326,000 to $331,000 while a 25-year-old two-bedroom in a low-rise building in Vancouver Heights jumped by $20,000 from $295,000 to $315,000.

However, in South Burnaby, a three-bedroom condo that’s about 14 years old dropped from $453,00 to $437,000 while a 20-year-old two bedroom low-rise condo maintained its $308,000 assessment.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

South Burnaby streets shut down by suicide threat
 
The art and science of barbecue
 
UPDATE: Suspicious package at Metropolis at Metrotown not a risk: Police
UPDATE: 2 confirmed dead in Marysville, Washington school shooting
 
A short getaway
 
Election 2014: Gayle Martin seeking re-election to Langley City council
Generator stolen from fishing village near Agassiz
 
Metro Vancouver rejects water subsidies for farms
 
Roadside suspensions credited for cut in drunk driving deaths

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 24 edition online now. Browse the archives.