Property values are up across B.C., and Agassiz-Harrison is certainly no exception.
Homeowner across the province have received their 2022 assessment notices to reflect their property’s value as of July 1, 2021. According to data from B.C. Assessment, property values went up by an average of 35 per cent for both the District of Kent and Harrison Hot Springs.
Typical assessed value for local homes in Agassiz-Harrison hasn’t yet cracked seven figures like some of the more metropolitan areas of the province. However, the size of the property value increase puts both the District of Kent and Harrison Hot Springs on the hotter end of an already red-hot real estate market.
Where a typical single-family home in the District of Kent would’ve been valued at $526,000 last year, the typical price has broken $710,000. In Harrison Hot Springs, typical single-family properties valued at nearly $600,000 have seen an increase to about $807,000.
B.C. Assessment deputy assessor Bryan Murao attributed the increase in value for most properties in the province to a highly active market, particularly in the Lower Mainland, where most value increases range between 10 and 30 per cent.
“Similarly, commercial and industrial properties across the province continue to show signs of recovery,” Murao said in a statement released Jan. 4.
City of Vancouver condo units saw the smallest increases at about 7 per cent on average.