Assessments in Queen’s Park up 10% in value

Assessments in New Westminster rose by five per cent in a year according to figures released by the BC Assessment Authority on Wednesday.

The total value of assessments in the city, as of July 1, 2012, was $13,761 billion, that’s a rise of nearly $700 million from the $13.07 billion on July 1, 2011.

The century-old Queen’s Park neighbourhood continues to lead the way in New West with a typical assessment for a single-family dwelling of $1,118,000 in 2012 compared to $1,010,000, a 10 per cent rise in value.

A 1950s house in Glenbrooke went from $664,000 to $707,000, a six per cent rise, while a 1930s home in Sapperton increased from $523,000 to $550,000 and a 1960s Queensborough bungalow rose from $644,000 to $672,000.

“Most homes in the North Fraser region are relatively similar in value compared to last year’s assessment roll,” said North Fraser deputy assessor Zina Weston in a press release. “Most single family home owners will see modest changes in the minus-five per cent to plus-10 per cent range.”

Only Coquitlam, which rise by 5.2 per cent, saw a bigger jump in its overall assessments in the region than New Westminster.

A 20-year-old three-bedroom in a high rise in the city went from $372,000 to $392,000, while a similar vintage low-rise condo dropped from $310,000 to $300,000. Townhouses took a bit of a hit with the example of a 1990 three-bedroom dropping from $476,00 to 444,000.




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