Strong real estate market boosts Greater Victoria property assessments- How about your property here, is it up also? What does this mean for you?
Greater Victoria homeowners will generally see property assessment increases of between two and eight per cent thanks to the region’s robust real estate market.
The latest numbers indicate a “really good healthy trend in values upwards,” said Reuben Danakody, Vancouver Island assessor for B.C. Assessment. “All the areas that have historically trended above others are doing the same thing again.”
These include single-family houses in sought-after neighbourhoods such as Oak Bay, Cadboro Bay, North Saanich, and Central Saanich, he said.
Notices are going out to owners of 148,000 properties in the capital region, showing the estimated market value as of July 1, 2015, and its physical condition as of Oct. 31, 2015.
The volume of real estate transactions this year has exceeded the previous year by at least 30 per cent, Danakody noted.
Read more: http://www.vancouversun.com/business/strong+real+estate+market+boosts+greater+victoria+property/11629972/story.html#ixzz3wUQqhlZJ