Third Quarter 2016
July 1st marks the date BC Assessment estimates the annual market value of properties in B.C. To estimate these values as of each July 1st, BC Assessment's professional appraisers analyze current sales in the local area evaluating all factors that buyers and sellers would consider. Some of these factors include a property's size, age, quality, condition, view and location. Learn more about how we assess properties.
BC Assessment's Regional Assessor Tina Ireland explains the significance of this data: "The City of Victoria continues to show market strength with typical single family homes rising year over year since July 1st 2015.
The strong demand in housing can also be seen in the strata residential housing market which has shown increases in the 15 to 25 percent from July 1st 2015 to July 1st 2016 at this time.
This market strength has held over the summer and into fall of 2016 showing continued market driven price increases in the third quarter of the year."
The "Change in Market Value" percentages compare all quarters to the second quarter of 2015.
The number of sales in the most recent quarters will increase as sales continue to be registered at the Land Titles and Survey Authority (LTSA).