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HomeNewsNorthwest single-family home owners to expect higher property values

Northwest single-family home owners to expect higher property values

BC Assessment has released their property assessments and single-family home owners within the Northwest have seen a significant increase. 

This is from data reported by the agency last week.

Among the highest changes from 2021 to 2022 include the Hazelton’s, Houston, Burns Lake and Smithers. 

Houston saw an increase of 35% on the average projected property assessment with the average single-family home valuing from $167,000 in 2021 to $226,000 in 2022. 

Meanwhile, the Smithers region saw an increase of 21% in the average single family home value. 

In 2021, the average single-family home value in 2021 was $362,000 and in 2022 it is $438,000.

As for Stata Home Changes, which are condos and townhouses the average assessed value in Smithers rose 13%. 

The average cost is now at $336,000 for 2022 compared to $298,000 in 2021. 

“All during the pandemic, the real estate market has remained robust across the province including higher demand throughout Northern BC, which has resulted in higher 2022 assessment values for most homeowners in the region,” said Northern BC Deputy Assessor Beau Rossel.

Communities new average home value and the percentage it increased:

  • Burns Lake : $218,000- +21%
  • Granisle: $73,000 – +14%
  • Hazelton’s: $164,000 – +35%
  • Houston: $226,000 – +35%
  • Smithers: $438,000 – +21%
  • Telkwa: $416,000 – +25%

The data is based on market values as of July 1,2021. 

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