{"id":16036,"date":"2016-01-05T13:42:51","date_gmt":"2016-01-05T18:42:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16036"},"modified":"2016-01-05T13:42:51","modified_gmt":"2016-01-05T18:42:51","slug":"b-c-property-assessments-spike-up-to-30-in-vancouver","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16036","title":{"rendered":"B.C. property assessments spike up to 30% in Vancouver"},"content":{"rendered":"
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B.C. property assessments spike up to 30% in Vancouver<\/h3>\n<\/div>\n

The home of Lululemon founder Chip Wilson was the highest-valued residential property in the province<\/strong><\/p>\n

\"Chip<\/p>\n<\/div>\n<\/div>\n

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Chip Wilson, founder of Lululemon yoga wear, has the home valued as the most expensive in B.C. by authorities. (Darryl Dyck\/Canadian Press)<\/p>\n<\/div>\n

Property assessment notices have been mailed to homeowners in the Greater Vancouver area\u00a0this week, with some homes jumping in value by up to almost 30 per cent.<\/p>\n

The most expensive property\u00a0in B.C. belongs to\u00a0Lululemon\u00a0founder Chip Wilson, whose\u00a0seven bedroom, nine bathroom home<\/a>\u00a0on a double lot on Point Grey Road is now worth $63.8 million\u00a0\u2014 an increase of 11 per cent from the year before.\u00a0\"Yoga<\/p>\n

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Former LuluLemon CEO Chip Wilson’s new waterfront home in Vancouver’s Kitislano neighbourhood took five years to construct on three waterfront lots. (Google Maps)<\/p>\n<\/div>\n

The\u00a010 most expensive residential properties in B.C. in 2016<\/a>\u00a0were almost\u00a0all worth more than $30 million.\u00a0Most of them are located in Vancouver’s Point Grey, Shaughnessy or Kitsilano neighbourhoods.<\/p>\n

“The 2016 assessments are indicating significant increases from 2015,” said\u00a0assessor Jason Grant in a written statement.<\/p>\n

“Increases of 15-25 per cent will be typical for single-family homes in Vancouver, North Vancouver, West Vancouver, Burnaby, Tri-Cities, New Westminster and Squamish.”<\/p>\n

The total value of\u00a0real estate in the province has increased to $1.34 trillion<\/a>, or by\u00a011 per cent since last year\u00a0\u2014 with most of that coming from residential properties.<\/p>\n

In Greater Vancouver alone, total assessments increased to $636.2 billion, an increase of about 16 per cent from the year before.<\/p>\n

The municipalities with the largest increases in property values were:<\/p>\n