The value of single family homes in the Thompson Okanagan region has increased, according to statistics from BC Assessment. (Black Press file photo)

The value of single family homes in the Thompson Okanagan region has increased, according to statistics from BC Assessment. (Black Press file photo)

Housing values increase in Thompson Okanagan region

Highest increase is in Princeton with values rising by 17 per cent over past year

Property assessments are in the mail for B.C. homeowners.

BC Assessment has mailed its 2021 assessments to the owners of more than 283,500 properties throughout the Thompson Okanagan. The assessments reflect the market value as of July 1, 2020.

“For the Okanagan, the majority of homeowners can expect to see moderate value changes compared to last year,” said Tracy Wall, Okanagan area deputy assessor.

READ ALSO: Property values decrease in Penticton, rise elsewhere in South Okanagan Similkameen

READ ALSO: B.C. assessed home values to dip 2.5% in 2020

“Some of our smaller communities such as Keremeos, Princeton, Enderby and Lumby are seeing notably higher increases in residential values compared to last year.”

In the Thompson area, the majority of property owners will see assessments of zero to 10 per cent, said Tracy Shymko, Thompson area deputy assessor.

Throughout the Thompson and Okanagan region, total assessments increased from $152.8 billion in 2020 to $159.3 billion in 2021. A total of about $2.4 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

Individual community assessments for single family homes are as follows:

  • Kelowna — three per cent increase, from $629,000 to $650,000
  • West Kelowna — four per cent increase, from $607,000 to $632,000
  • Lake Country —seven per cent increase, from $627,000 to $673,000
  • Penticton — two per cent increase, from $469,000 to $479,000
  • Keremeos — 11 per cent increase, from $275,000 to $304,000
  • Princeton — 17 per cent increase, from $215,000 to $252,000
  • Summerland — two per cent decrease, from $526,000 to $517,000
  • Oliver — seven per cent increase, from $389,000 to $416,000
  • Osoyoos — one per cent increase, from $429,000 to $433,000
  • Peachland — three per cent increase, from $573,000to $590,000
  • Enderby — 12 per cent increase, from $303,000 to $339,000
  • Armstrong — seven per cent increase, from $399,000 to $425,000
  • Vernon — three per cent increase, from $463,000 to $479,000
  • Coldstream — four per cent increase, from $581,000 to $606,000
  • Lumby — 13 per cent increase, from $340,000 to $384,000
  • Salmon Arm —three per cent increase, from $413,000 to $426,000
  • Spallumcheen — seven per cent increase, from $342,000 to $367,000
  • Sicamous — seven per cent increase, from of $298,000 to $318,000

Provincewide, there are 2,114,885 properties on the British Columbia assessment role, an increase of one per cent from the previous year. The value of real estate in British Columbia is $2.01 trillion, according to assessment figures. This is an increase of nearly 4.2 per cent from 2020.

Each year, real estate sales are used to determine property values throughout the province.

Property owners can compare their property values with others in the province by visiting bcassessment.ca and using Find Your Assessment. Information is also available under Property Information and Trends on the website.

To report a typo, email:
news@summerlandreview.com
.



news@summerlandreview.com

Like us on Facebook and follow us on Twitter.

Housing

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A historic home near Granny’s Fruit Stand in Summerland was the home of two of the community’s mayors. J.R. Campbell and Don Cameron both lived at the home on Highway 97 in Summerland, but not at the same time. (Photo courtesy of the Summerland Museum)
Historic house was home to two Summerland mayors

Building along Highway 97 was constructed in 1906

Interior Health reported 91 new COVID-19 cases in the region Jan. 20, 2021 and three additional deaths. (Jennifer Smith - Morning Star)
95 new COVID-19 cases in Interior Health, two deaths

Another member of Vernon’s Noric House has passed

Fiction writing contest
A call to writers in the Okanagan

UBCO holds annual fiction writing contest

Vaccine rollout is focused on health care workers first, especially those dealing with long-term care facilities. (Nathan Denette - Canadian Press)
General public shouldn’t expect vaccines until fall: Interior Health

Interior Health focused on vaccinating long-term and first-line care workers

A mother hold hands with her daughter while sharing about her struggles with addiction during Overdose Awareness Day. (Jesse Major/Black Press file)
Overdose and suicide support group starts in Penticton

Penticton was one of the province’s communities hardest hit by the overdose crisis in 2020

Businesses continue to struggle under COVID-19 restrictions as the pandemic reaches the one-year mark. (B.C. government)
Another 564 COVID-19 cases, mass vaccine plan coming Friday

15 more deaths, community cluster declared in Williams Lake

A specialized RCMP team is investigating a suspicious trailer, which might have connections to the illicit drug trade, found abandoned outside a Cache Creek motel. (Photo credit: <em>Journal</em> files)
Police probe U-Haul trailer linked to illicit drugs left outside Cache Creek motel

Hazardous materials found inside believed to be consistent with the production of illicit drugs

Premier John Horgan leaves the podium following his first press conference of the year as he comments on various questions from the media in the Press Gallery at B.C. Legislature in Victoria, B.C., on Monday, January 13, 2020. THE CANADIAN PRESS/Chad Hipolito
Interprovincial travel restrictions a no-go, Horgan says after reviewing legal options

The B.C. NDP government sought legal advice as concerns of travel continue

Kevin Lee Barrett is charged with attempted murder and aggravated assault. (Facebook)
Court hears of victim’s injuries in West Kelowna attempted murder trial

Two-week-long trial continues for Kevin Barrett, accused of trying to kill mother in West Kelowna

Robert Riley Saunders. (File)
Disgraced Kelowna social worker faces another class-action lawsuit

Zackary Alphonse claims he was not informed of resources available to him upon leaving government care

McBain Insurance in Summerland gave a donation of $816 to Angus Place. The money will go towards a new floor in the bathing room in the seniors care facility. From left are Chris Emmons of McBain Insurance, Stacey Schieman of McBain Insurance and Charmaine Kramer of Parkdale Place Housing Society. (Contributed)
Donation to help with bathing room work at Summerland seniors facility

Earlier contribution will be used to replace aging tub at Angus Place

The steel mills in the Hamilton waterfront harbour are shown in Hamilton, Ont., on Tuesday, October 23, 2018. THE CANADIAN PRESS/Nathan Denette
Dyer: Stay the course on Carbon pricing

Kristy Dyer has a background in art and physics and consulted for Silicon Valley

Gem Lake Top, at Big White Ski Resort, seen at Jan. 8. (Big White Ski Resort)
Big White cancels $7.3M in lift tickets, accommodations due to COVID-19 orders

Since November, the ski resort has been forced to make several changes

Voting is the number one, bare minimum way to have your voice heard by government. (File photo)
Jocelyn’s Jottings: Want to make change? Here are some suggestions

As a citizen you have a voice, you just have to know who to talk to

Most Read