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When you can afford to buy a house along the
waterfront in West Vancouver, or in the tonier
parts of Vancouver's Shaughnessy, or Whistler,
you are rich.
Some of the people who already live in these
areas are a little richer now, on paper at
least, as the assessed value of their homes
climbed by between 6.84 per cent and as much as
32.27 per cent during 2005.
A list of the top-20 assessed residential
properties in B.C. compiled by Landcor Data
Corp. shows that 3330 Radcliffe Avenue in
West Vancouver was the most valuable piece of
residential real estate in the province. BC
Assessment set that address's 2006 assessment at
$16.98 million -- almost $1.8 million, or 11.6
per cent, higher than it was in 2004.
That assessment almost equals the $17 million a
mining entrepreneur bought 3330 Radcliffe for in
2004. However, the assessment is still less than
the $19.8 million the new owner is asking for
the home, which is listed with the prestigious
West Vancouver realtors Hasman Angell &
Associates.
A 24-per-cent increase in the assessed value of
2815 Point Grey Road on Vancouver's west side
made its owners millionaires again some
2.8-times over. Its 2006 assessment was $14.5
million, compared with $11.7 million a year ago.
The owner of 3639 Osler in Shaughnessy, No. 16
on the list, saw an even bigger increase, as the
property's assessment rose a whopping 32.27 per
cent to $10.89 million, boosting the value by
some $2.66 million.
The No. 3 property on the list, 3489 Osler, saw
its assessment rise 16.7 per cent to $13.8
million.
And even in Whistler, where BC Assessment
recorded an overall 3.7-per-cent drop in the
total value of all real estate, 2177 Lake Placid
Road saw its assessed value increase. That home
was assessed at $13.67 million, up from $13.46
million a year ago.
Over all, eight of the province's top-20 highest
assessed properties were in West Vancouver, nine
were in Vancouver (including one in the
University of B.C. endowment lands), and one
each in Whistler and North Saanich near Victoria
on Vancouver Island.
The most unusual entry on the list is Hernando
Island, a small island off Cortes Island in the
northern Strait of Georgia, which is assessed at
$12.6 million.
The rising assessments of B.C.'s mansions,
however, comes as no surprise to luxury realtor
Manyee Lui of Macdonald Manyee Lui Realty. She
noted that with Greater Vancouver land prices
climbing and labour costs increasing, the sale
prices of homes have to go up.
"And if sales price has gone up, government
assessments will follow," she added.
Lui said the demand for high-end real estate in
Vancouver is coming from offshore buyers, mostly
from Asia, but with increasing numbers from
Europe and the United States.
B.C.'S TOP-20 PROPERTIES:
Here are the most expensive homes in British
Columbia, as ranked by the BC Assessment
Authority:
1. 3330 Radcliffe Ave., West Vancouver, has seen
an 11.55% increase in assessed value. Inset:
House interior
$16,983,000*
2. 2815 Point Grey Road, Vancouver, has seen a
24.02% increase in assessed value.
$14,497,000
3 . 3489 Osler Street, Vancouver, has seen a
16.17% increase in assessed value.
$13,804,000
4. $13,672,000
2177 Lake Placid Road,
Whistler: +1.59%
5. $13,296,000
3110 Travers Ave.,
West Vancouver: +16.36%
6. $13,003,000
130 Oxley Street,
West Vancouver: +13.95%
7. $12,835,000
2588 Bellevue Ave.,
West Vancouver: +12.80%
8. $12,689,000
4719 Belmont Ave.,
Vancouver: +8.08%
9. $12,565,000
Hernando Island, Powell River area: +1.34%
10. $12,329,000
5695 Newton Wynd, University Endowment Lands:
+13.49%
11. $11,821,000
4351 Erwin Drive,
West Vancouver: +14.30%
12. $11,429,000
1683 Drummond, Vancouver: +6.84%
13. $11,309,000
670 Lands End Road, North
Saanich: +7.56%
14. $10,971,000
2531 Point Grey Road
Vancouver: +13.25%
15. $10,919,000 6151 St. Georges Cres. West
Vancouver: +10.51%
16. $10,893,000
3639 Osler Street,
Vancouver: +32.27%
17. $10,811,000
4371 Erwin Dr.,
West Vancouver: +13.93%
18. $10,461,000
4743 Belmont Ave.,
Vancouver: +10.82%
19. $10,393,000
4147 Ferndale Ave.,
West Vancouver: +16.16%
20. $9,976,000
1388 The Crescent, Vancouver: +14.95%
*All prices are 'assessed value' |
