MAP: Priciest properties in Surrey and Fraser Valley up more than $2 million

The 50 most expensive homes in the Valley range from $5.2 to $16.1 million and are dominated by Surrey properties

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Many home owners are stunned at the jump in their property value, but just imagine if the increase was measured in the millions.

Some of the priciest properties in the Fraser Valley have gained more than $2 million, according to data released Tuesday by B.C. Assessment.

The highest assessed single family house in the region is at 2021 Indian Fort Drive in Surrey and its value leapt $2.4 million or 25 per cent from $9.5 million to just over $11.9 million.

A White Rock house at 13616 Marine Drive shot up by almost $2.8 million or 30 per cent, from $9.1 million to $11.87 million.

When acreages are included, the highest assessed residential property in the Fraser Valley (into which B.C. Assessment includes Surrey and Richmond) was a Surrey acreage at 17146 20 Avenue that gained nearly $2 million to $16.15 million.

And the priciest property in Langley Township – an acreage at 19683 0 Avenue – saw its assessment rise 31 per cent or $2.4 million to $10.06 million, from $7.6 million.

Explore our interactive map above to see the 50 highest assessed homes in the Fraser Valley or click here for mobile users.

Surrey houses dominate the region’s top 100 list, which includes only a few other properties further east – four acreages in Langley Township ranging from $4.8 to $6.1 million and one in Chilliwack’s Columbia Valley valued at $4.6 million. Five properties on the list exceed $10 million.

The most expensive home in B.C. overall was Lululemon founder Chip Wilson’s Vancouver house at 3085 Point Grey Road, now assessed at $63.87 million, up 10.9 per cent.

Apart from that house and from $51-million James Island off Sidney, the top 10 highest value homes in B.C. are all in Vancouver and exceed $29 million.

According to B.C. Assessment, detached houses in urban areas of the Fraser Valley typically gained five to 25 per cent, and more rural houses were up or down by as much as five per cent in most cases.

Strata units in the Fraser Valley gained between zero and 10 per cent, while commercial properties increased five to 25 per cent.

Bigger increases were more common in Greater Vancouver, where detached houses were up 15 to 30 per cent and strata units were usually up around 10 per cent.

You can look up any B.C. property’s assessment at evaluebc.bcassessment.ca.

The new 2016 assessments are as of last July 1.

“This is a snapshot in our rear-view mirror,” B.C. Real Estate Association chief economist Cameron Muir said. “Home prices have probably gone up 10 per cent across the region since then.”

Muir said strong demand and a diminishing supply of increasingly scarce single detached houses triggered the “pretty significant gains” of 2015.

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