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Townhouses pressure up Fraser Valley belongings values

According to BC Assessment, most assets owners in Fraser Valley can count on a boom in their property values. The fee of most houses in the vicinity will increase with proprietors of residential strata units, or condos and townhouses, seeing the largest upward thrust: 10-40 according to the cent. “Stratas is the area wherein the market is shifting the most prominently this year,” said BC Assessment Fraser Valley assessor Laura Schwagele. However, single-family growth persisted in being strengthened further out into the Fraser Valley.

According to BC Assessment stats, an average $217,000 rental in north Surrey may want to see its price boom by forty percent this year. “The unmarried-family houses had been quite active, and we’re seeing will increase up to 25 in line with the cent.” Rural Chilliwack, Langley City, and Abbotsford noticed the best average increases in residential belongings values with 22 according to the cent, 20 in keeping with the cent and 18 percent, respectively.

But no matter property owner issues, increases in assets price don’t always imply a pointy boom whilst the tax invoice comes out, Schwagele stated. “If your own home went up, as an example, 10 in step with cent and the common turned into 10 percent [in your region] and say the metropolis become publishing that their taxes could move up 3 in step with cent, then you definitely would expect your taxes to head up three according to the cent,” said Schwagele. Homeowners whose property values boom by greater than the average of their metropolis will see better than usual tax will increase, she added.

Fraser Valley’s most valuable

A $30 million South Surrey acreage remained the maximum pricey property within the Fraser Valley, having improved in cost by close to $6 million on account that remaining yr. Want to see in which the other half of lives? Here are the Fraser Valley’s top 10 most highly-priced homes:

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