Posts Tagged ‘real estate trends 2026’

Vancouver Island assessed property values are now available, and many homeowners are asking what the numbers really mean. While assessments influence property taxes, they do not directly reflect current market value. Understanding how BC Assessment works helps put these figures into context. How BC Assessment Determines Value BC Assessment estimates property values annually based on a July 1 valuation date from the prior year. They analyze recent sales, property characteristics, location, and zoning. The goal is fairness across similar properties, not predicting today’s selling price. Why Total Assessed Values Reached $399 Billion Across British Columbia, total assessed property values climbed to approximately $399 billion. This increase reflects long-term population growth, limited housing supply in many areas, and steady demand over several years. Even in a more balanced market, past price gains still influence assessed values. Regional Differences Across Vancouver Island Changes were not uniform. In Greater Victoria, assessments rose by about 1 percent, signalling a cooler and more stable market compared to prior years. In contrast, parts of the North Island saw increases of up to 7 percent, driven by relative affordability, lifestyle demand, and fewer listings. These differences matter. Property taxes are based on your home’s value relative to others in your municipality, not just whether your assessment went up or down. What This Means for Homeowners in 2026 A higher assessment does not automatically mean higher taxes. If your property value increased less than the local average, your tax bill may rise only modestly. For buyers and sellers, assessed values remain a reference point, but market conditions, pricing strategy, and timing still matter more. If you believe your assessment does not reflect your property accurately, you can review comparable sales and file an appeal within the stated deadline. Bottom Line Vancouver Island assessed property values 2026 show a market that is stabilizing in some regions and still adjusting in others. Understanding the assessment process helps homeowners make informed decisions without overreacting to the headline number.   Cindy H., 5-Star Review, via Google “The Faber team go above and beyond! Scott is wonderful to deal with and has a great attitude. I definitely recommend.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Langford has firmly established itself as one of the most in demand real estate markets in Greater Victoria. With ongoing development, expanding amenities, and a wide range of housing options, Langford continues to attract buyers at every stage of life. As the Westshore grows, Langford remains at the center of that momentum. A Wide Range of Housing Options One of Langford’s biggest strengths is housing diversity. Buyers can choose from condos, townhomes, duplexes, and single family homes across a variety of price points. This flexibility makes Langford especially appealing to first time buyers, growing families, and downsizers. Newer construction also means many homes are move in ready, which continues to be a major draw in today’s market. Strong Infrastructure and Amenities Langford offers excellent access to shopping, schools, parks, recreation facilities, and major transportation routes. Ongoing infrastructure investment supports long term growth and improves daily livability for residents. From walkable commercial areas to sports facilities and trails, Langford offers convenience without sacrificing lifestyle. Buyer Demand and Long Term Value Consistent demand has helped Langford maintain steady resale activity. Its central role in the Westshore, combined with continued population growth, supports long term value for homeowners and investors alike. As affordability remains a challenge closer to downtown Victoria, Langford continues to be viewed as a smart alternative with strong fundamentals. Final Thoughts Langford is no longer an emerging market. It is a well established, high demand community that continues to evolve. For buyers seeking value, convenience, and long term potential, Langford remains one of the strongest choices in the Westshore. Florenda S., 5-Star Review, via Google “We worked with Cal & Scott selling our home recently. The effort they put into the sale was amazing with the photo virtual walk through set, the video, the night shots and open houses. Our house sold very quickly even in a slowdown in the market.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”