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),
READ ALSO: Surrey, Abbotsford homes crack top 10 most expensive properties in B.C.
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.
READ MORE: Several South Surrey homes make most expensive list
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.
