Kwalikum Secondary School property has an assessed value of $24,588,000. (SD69 photo)

Kwalikum Secondary School property has an assessed value of $24,588,000. (SD69 photo)

Assessed property values on the rise in Parksville Qualicum Beach

Increase approximately 3-6 per cent in PQB area; most expensive home listed at $5.2M

Not even the global pandemic can curtail property assessment values in Parksville Qualicum Beach from rising.

The latest 2020 report from BC Assessment, an organization that collects, monitors and analyzes property data throughout the year, shows a three to six per cent increase in the value of residential properties in the Parksville Qualicum Beach region. The latest assessments reflect the reflect market value as of July 1, 2020.

In the City of Parksville, a typical single-family home has gone up by an average of three per cent to $505,000 in 2020 from $488,000 the previous year. Two of the most expensive homes assessed in Parksville are valued at $3,544,000 and $3,287,000 located in Soriel Road and Gaetjen Street, respectively.

A similar home in the Town of Qualicum Beach now cost $632,000, up from $596,000 in 2019, a six per cent increase from last year when properity homes went down three per cent. Two residential houses that have the highest assessed value in Qualicum Beach with price tags, $5,248,000 and $5,089,00, are located along Island Highway West and on Eaglecrest Drive.

RELATED: B.C. property values went up 4.2 per cent in 2020 as most homeowners see ‘moderate increases’

“Home values across Vancouver Island have appreciated this year due to strong demand combined with limited inventory for sale,” says Vancouver Island Assessor Tina Ireland. “For most communities, the assessed values of single family homes are up moderately about five to 10 per cent, while residential stratas are generally showing less of an increase.”

The most expensive residential properties in the District 69 region are located in Nanoose Bay. Leading the way is an acreage located in the Beachcomber area with an assessed value of $14,476,000. It is ranked third overall in the Vancouver Island top 100 valued residential properties in 2020. In 2018, the property ranked sixth overall on the Island when it was valued at $12,418,000.

In the commercial sector, Wembley Mall in Parksville and Kwalikum Secondary School have the highest assessed value in District 69, $30,238,000 and $24,588,000, respectively.

Overall, Vancouver Island’s total assessments increased from about $255 billion in 2020 to $269 billion this year. More than $3.47 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

In the next few days, owners of close to 378,000 properties throughout Vancouver Island can expect to receive their 2021 assessment notices.

BC Assessment’s Vancouver Island region includes all communities located within Greater Victoria, South Island, Central Island, North Island, West Coast, Northern and Southern Gulf Islands and Powell River.

Property owners who are concerned about their properties improperly assessed can appeal them until Feb. 1. They can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcassessment.ca

Location of Parksville’s top 10 highest-assessed residential properties (specific addresses redacted):

• Soriel Rd., Parksville $3,544,000

• Gaetjen St., Parksville $3,287,000

• Willow St., Parksville $2,722,000

• Seaway Dr., Parksville $2,696,000

• Sanderson Rd., Parksville $2,651,000

• Fairwind Ave., Parksville $2,478,000

• Willow St., Parksville $2,054,000

• Wright Rd., Parksville $2,040,000

• Willow St., Parksville $1,939,000

• Gaetjen St., Parksville $1,934,000

Parksville’s top 10 highest-assessed commercial properties:

• 826 Island Hwy W, Parksville $30,238,000

• 135 Pym St. N, Parksville $23,278,000

• 401 Moilliet St. S, Parksville $21,352,900

• 450 Despard Ave., Parksville $19,271,000

• 182 Corfield St. S, Parksville $18,203,100

• 193 Island Hwy E, Parksville $15,313,000

• 233 Shelly Rd, Parksville $12,102,000

• 830 Island Hwy W, Parksville $11,636,000

• 100 Jensen Ave E, Parksville $11,613,600

• 1240 Rathtrevor Park Rd., Parksville $9,723,000

Location of Qualicum Beach’s top 10 highest-assessed residential properties:

• Island Hwy W, Qualicum Beach $5,248,000

• Eaglecrest Dr., Qualicum Beach $5,089,000

• Judges Row, Qualicum Beach $4,239,000

• Hall Rd., Qualicum Beach $3,558,000

• Island Hwy W, Qualicum Beach $3,517,000

• Judges Row, Qualicum Beach $3,364,000

• Hall Rd., Qualicum Beach $3,076,000

• Seacrest Pl., Qualicum Beach $2,997,000

• Judges Row, Qualicum Beach $2,948,000

• Seacrest Pl., Qualicum Beach $2,928,000

Qualicum Beach’s top 10 highest-assessed commercial properties

• 266 Village Way, Qualicum Beach $24,588,000

• 699 Claymore Rd., Qualicum Beach $14,953,000

• 705 Memorial Ave., Qualicum Beach $9,829,000

• 650 Bennett Rd., Qualicum Beach $9,184,000

• 777 Jones St., Qualicum Beach $7,419,000

• 747 Jones St., Qualicum Beach $6,314,000

• Laburnum Rd., Qualicum Beach $6,069,000

• 744 Primrose St., Qualicum Beach $5,892,000

• 2690 Island Hwy W, Qualicum Beach $5,075,400

• 292 Crescent Rd. E, Qualicum Beach $4,587,000

Location of Regional District of Nanaimo (Jurisdiction 768/769) top 10 highest-assessed residential properties:

• Dorcas Point Rd., Nanoose Bay $14,476,000

• Stewart Rd., Nanoose Bay $6,318,000

• Elliot Way, Ladysmith $5,985,000

• Dorcas Point Rd., Nanoose Bay $5,530,000

• Seahaven Rd., Nanoose Bay $5,122,000

• Yellow Point Rd., Ladysmith $4,644,000

• Mariner Way, Parksville $4,216,000

• Amberwood Lane, Nanoose Bay $3,945,000

• Marvin Rd., Gabriola $3,930,000

• Andover Rd., Nanoose Bay $3,738,000

Regional District of Nanaimo (Jurisdiction 768/769) top 10 highest-assessed commercial properties

• Ninatti Rd., Ladysmith $71,704,000

• 3400 Fairwinds Dr., Nanoose Bay $22,183,600

• 1640 Macmillan Rd., Nanaimo $18,011,000

• 3350 Spitfire Rd., Cassidy $14,714,000

• 980 Wright Rd., Parksville $14,089,000

• 3521 Dolphin Dr., Nanoose Bay $11,305,000

• 13267 Trans Canada Hwy, Ladysmith $10,968,000

• 3355 Spitfire Rd., Cassidy $10,916,000

• Hemer Rd. $9,707,100

• 3660 Hallberg Rd., Ladysmith $8,637,000

Michael.Briones@pqbnews.com

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