With the BC Property Assessment coming out this week, we’ve got a lot of fun (if not downright insane) stuff to talk about. And while we already covered the most expensive homes in the province, we’ve got something else in mind for today. Move over Vancouver, because you’re not even in the running for the spots around BC that had home prices rise the most for 2022.
Turns out, a number of municipalities around the province blew past the (still impressive) 16% rise in average home prices around Vancouver. So, we looked at all the regions covered in the new assessment, from the Lower Mainland to Northern BC. And friends, things are about to get crazy.
Starting in the Lower Mainland, the District of Hope saw a whopping 45% increase, with average prices rising from $428,000 to $620,000. The City of Chilliwack wasn’t far behind, either, with an increase from $627,000 to $877,000, or 40%.
Related Posts:
Here are 11 of the coolest places to go for a winter walk around Vancouver
Almost all of BC is under a winter weather warning right now & here’s what to expect
View this post on Instagram
Moving over to Vancouver Island, it was actually the City of Port Alberni that saw the biggest gains, with prices jumping from $320,000 to $470,000 (a 47% increase). The ever-popular travel destinations of Tofino and Ucluelet are going crazy too, with 42% and 43% gains, respectively.
Heading east to the Thompson Okanagan region, it was the little-known municipality of Spallumcheen that came out on top. Located between Vernon and Enderby, this area, which includes the town of Armstrong, saw prices rise from $367,000 to $521,000, or 42%.
The mountain lovers among us might find lower prices in the Kootenay region, but this is where the price jumps really start to go off. The top dog here, Greenwood, saw home prices rise a serious 53% last year. The village of Slocan wasn’t far behind either, with an increase of 51% for 2022. Luckily, the average home price is still $295,000, but geeze, what a year.
View this post on Instagram
And in the same boat, but even more impressive, we get to Northern BC. Much like the Kootenay region, Northern BC has got some very low (especially when compared to the Lower Mainland) prices, but it appears to be catching up fast. In fact, it’s almost the BC spot that saw the biggest home price gains for 2022. The Village of Port Clements, in the stunning Haida Gwaii region, saw a mind-boggling increase of 58%. Thinking of moving? Act fast, because the average home price is still at $125,000.
That really seems to be the general rule for BC home prices for 2022, after all. With a focus on close-to-home amenities and remote working becoming the norm, more and more people are moving out of the big city for more scenic (and reasonably priced) areas of the province. The stats don’t lie, folks!
