Dorcas Point Road in Nanoose Bay is dominating a list of the most expensive homes in the Parksville Qualicum Beach area, in a year where property owners can expect to see assessed values tick up slightly.
The value of the average single family home in Parksville increased by one per cent to $750,000 in 2025, while in Qualicum Beach the average single family property value is now $920,000, up by two per cent, according to new data from BC Assessment.
Three homes in Nanoose Bay made it onto the Top 100 Valued Residential Properties on the Island, along with two in Qualicum Beach.
“Most homeowners throughout Vancouver Island can expect minimal change with their 2025 assessment values, generally being in the range of -5 per cent to +5 per cent," said Matthew Butterfield, deputy assessor, in a news release. “Some North Island communities, however, will see larger increases as the recent trends in demand for those real estate markets continues to be strong."
Assessments are the estimate of a property's market value as of July 1, 2024 and physical condition as of October 31, 2024.
Parksville Qualicum Beach area’s highest-assessed single family homes (specific addresses redacted for privacy):
• Dorcas Point Road, Nanoose Bay - $20,660,000
• Oak Leaf Drive, Nanoose Bay - $10,136,000
• Judges Row, Qualicum Beach - $9,078,000
• Hall Road, Qualicum Beach - $8,764,000
• Stewart Road, Nanoose Bay - $8,050,000
• Dorcas Point Road, Nanoose Bay - $7,147,000
• Dorcas Point Road, Nanoose Bay - $7,062,000
• Dorcas Point Road, Nanoose Bay - $6,784,000
• Eaglecrest Drive, Qualicum Beach - $6,651,000
• Mallard Place, Nanoose Bay - $5,896,000
The No. 1 assessed residential property in Parksville is a home on Soriel Road valued at $4,855,000.
Parksville Qualicum Beach area’s highest-assessed commercial properties (data not available for Nanoose Bay):
• 826 Island Hwy W, Parksville - $40,271,000
• 182 Corfield St. S, Parksville - $24,562,000
• 371 Alberni Hwy, Parksville - $22,875,000
• Second Avenue East undeveloped property, Qualicum Beach - $17,305,000
• 233 Shelly Rd., Parksville - $17,005,000
• 187 Bagshaw St., Parksville - $15,901,500
• 200 Corfield St. N, Parksville - $12,381,000
• 705 Memorial Ave., Qualicum Beach - $11,158,000
• 105 Island Hwy E, Parksville - $10,385,200
• 319 Island Hwy E, Parksville - $9,926,000
Overall, Vancouver Island's total assessments increased from over $386 billion in 2024 to almost $391 billion this year. About $4.89 billion of the region's updated assessments is from new construction, subdivisions and the rezoning of properties.
The Vancouver Island region includes all communities located within Greater Victoria, South Island, Central Island, North Island, the West Coast, Northern and Southern Gulf Islands and Powell River.
If a property owner is concerned about their assessment, they can submit a Notice of Complaint (appeal) by Jan. 31 for an independent review by a Property Assessment Review Panel.
The deadline to appeal 2025 assessments through BC Assessment is Jan. 31.
