Home values up again in Maple Ridge and Pitt Meadows

B.C. Assessment numbers now out

Maple Ridge and Pitt Meadows and cities in the eastern Fraser Valley are bucking the trend of dropping home values as is happening in some parts of Metro Vancouver.

Single-family home values have jumped by eight per cent in Maple Ridge and Pitt Meadows, when last July’s values were compared with July 2017 prices, according to a Jan. 2 release from B.C. Assessment.

In contrast, property values for single-family homes in White Rock and Richmond dropped two per cent.

B.C. Assessment released the numbers in advance of assessment notices that soon will be in the mail.

Most homeowners can expect a “modest change” in their property values, compared to the last year’s numbers, said Fraser Valley deputy assessor Brian Smith.

The growth in single-family home prices was more dramatic farther east with increases of 10 per cent in Chilliwack and Mission and 17 per cent in Hope, when compared to the year before.

The average value for a single-family home in Maple Ridge, as of last July, was $820,000, with homes in Pitt Meadows valued higher – at $871,000.

It’s a different story for condo prices, however.

Their value is increasing even more dramatically, with Maple Ridge showing an 18-per-cent jump in values, while Abbotsford condos skyrocketed by 28 per cent, as of last July.

The average price for a condo in Maple Ridge in July was $464,000, an increase from $394,000 the year before.

Maple Ridge condo prices are actually higher than those in Langley, where the average price in July was $396,000.

The latest numbers have residents on social media in Maple Ridge noting their houses values are seeing healthy increases, while others note that the housing market has dropped since July.

July’s assessment values are now on BC Assessment’s website.

Last November, the B.C. government said it’s already seeing results from the policies it put in place to address the housing crisis.

Housing Minister Selina Robinson said then that the government is seeing some high-end house prices starting to drop.

“Right now we’ve got the speculation and empty home taxes, so part of what we need to do is monitor the impact that it has and continue to see what it does,” Robinson said.

Some Metro Vancouver detached single-family homes were showing decreases in value of five to 10 per cent over last year, including in areas of Vancouver, the North Shore, South Surrey, White Rock, South Delta and Richmond, said BC Assessment.

Other areas were relatively stable or even showing modest increases.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

LETTER: Most take on healthcare to save lives, not get more money

Reader disturbed by call local person’s call for hazard pay during COVID

LETTER: Different view questions mandated social distancing

Look at the science behind herd immunity versus current approach to curtailing COVID

LETTER: Verbal attack on foreign workers disturbing

Racist and derogatory comments on social media disheartening and disappointing to Maple Ridge native

LETTER: How about a fashion contest for COVID face gear

Not trying to make light of the pandemic, but how about a community competition, no age limit

ON THE PAGE: FVRL Express launches Monday

It’s as easy as click, pick, and go at Maple Ridge and Pitt Meadows libraries starting next week

QUIZ: Test your knowledge of the world of summer sports

In a typical year, there are plenty of summer sporting events and tournaments held across Canada

Facing changes together: Your community, your journalists

Thanks for helping The News to continue its mission to provide trusted local news

‘We’re sick of it’: Anger over police killings shatters U.S.

Tens of thousands marched to protest the death of George Floyd

Police watchdog investigating death of man in Delta

Independent Investigations Office asking for witnesses to May 29 incident at Tsawwassen ferry terminal

Surrey mayor’s party under fire for ‘sickening’ tweet accusing northern B.C. RCMP of murder

Mayor Doug McCallum says tweet, Facebook post ‘sent out by unauthorized person’

Father’s Day Walk Run for prostate cancer will be virtual event this year throughout B.C.

The annual fundraiser for Prostate Cancer Foundation BC has brought in $2.5 million since 1999

Dr. Bonnie Henry announces official ban on overnight kids’ camps this summer

New ban comes after talking with other provincial health officials across the country, Henry says

Senior man in hospital after unprovoked wolf attack near Prince Rupert

Conservation officers are on site looking for the wolf

VIDEO: NASA astronauts blast off into space on SpaceX rocket

Marks NASA’s first human spaceflight launched from U.S. soil in nearly a decade

Most Read