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Housing values increase in Thompson Okanagan region

Highest increase is in Princeton with values rising by 17 per cent over past year
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The value of single family homes in the Thompson Okanagan region has increased, according to statistics from BC Assessment. (Black Press file photo)

Property assessments are in the mail for B.C. homeowners.

BC Assessment has mailed its 2021 assessments to the owners of more than 283,500 properties throughout the Thompson Okanagan. The assessments reflect the market value as of July 1, 2020.

香蕉视频直播淔or the Okanagan, the majority of homeowners can expect to see moderate value changes compared to last year,香蕉视频直播 said Tracy Wall, Okanagan area deputy assessor.

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香蕉视频直播淪ome of our smaller communities such as Keremeos, Princeton, Enderby and Lumby are seeing notably higher increases in residential values compared to last year.香蕉视频直播

In the Thompson area, the majority of property owners will see assessments of zero to 10 per cent, said Tracy Shymko, Thompson area deputy assessor.

Throughout the Thompson and Okanagan region, total assessments increased from $152.8 billion in 2020 to $159.3 billion in 2021. A total of about $2.4 billion of the region香蕉视频直播檚 updated assessments is from new construction, subdivisions and rezoning of properties.

Individual community assessments for single family homes are as follows:

  • Kelowna 香蕉视频直播 three per cent increase, from $629,000 to $650,000
  • West Kelowna 香蕉视频直播 four per cent increase, from $607,000 to $632,000
  • Lake Country 香蕉视频直播攕even per cent increase, from $627,000 to $673,000
  • Penticton 香蕉视频直播 two per cent increase, from $469,000 to $479,000
  • Keremeos 香蕉视频直播 11 per cent increase, from $275,000 to $304,000
  • Princeton 香蕉视频直播 17 per cent increase, from $215,000 to $252,000
  • Summerland 香蕉视频直播 two per cent decrease, from $526,000 to $517,000
  • Oliver 香蕉视频直播 seven per cent increase, from $389,000 to $416,000
  • Osoyoos 香蕉视频直播 one per cent increase, from $429,000 to $433,000
  • Peachland 香蕉视频直播 three per cent increase, from $573,000to $590,000
  • Enderby 香蕉视频直播 12 per cent increase, from $303,000 to $339,000
  • Armstrong 香蕉视频直播 seven per cent increase, from $399,000 to $425,000
  • Vernon 香蕉视频直播 three per cent increase, from $463,000 to $479,000
  • Coldstream 香蕉视频直播 four per cent increase, from $581,000 to $606,000
  • Lumby 香蕉视频直播 13 per cent increase, from $340,000 to $384,000
  • Salmon Arm 香蕉视频直播攖hree per cent increase, from $413,000 to $426,000
  • Spallumcheen 香蕉视频直播 seven per cent increase, from $342,000 to $367,000
  • Sicamous 香蕉视频直播 seven per cent increase, from of $298,000 to $318,000

Provincewide, there are 2,114,885 properties on the British Columbia assessment role, an increase of one per cent from the previous year. The value of real estate in British Columbia is $2.01 trillion, according to assessment figures. This is an increase of nearly 4.2 per cent from 2020.

Each year, real estate sales are used to determine property values throughout the province.

Property owners can compare their property values with others in the province by visiting bcassessment.ca and using Find Your Assessment. Information is also available under Property Information and Trends on the website.

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John Arendt

About the Author: John Arendt

I have worked as a newspaper journalist since 1989 and have been at the Summerland Review since 1994.
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