Overview
- BC Assessment reports Metro Vancouver and the wider Lower Mainland down as much as 10%, with regional totals falling to $1.92 trillion from about $2.01 trillion.
- Vancouver Island is broadly stable within a range of roughly -5% to +5%, with the North Island showing the biggest swings, while Northern B.C. and the Kootenays include increases up to about 15%.
- The province set the 2026 homeowner grant threshold at $2.075 million, the first decrease since 2020, with basic grant amounts unchanged and partial grants still available above the threshold.
- Province-wide, 2.23 million properties were assessed and total value declined 2.5% year over year to $2.75 trillion, reflecting a softer market especially for higher-end properties.
- BC Assessment highlights interest-rate and local market dynamics, while industry voices point to the foreign-buyer ban and provincial taxes, with examples including a 9% drop in White Rock and an 11% cut to B.C.’s highest-valued home.