VANCOUVER – The property assessments for more than 1,120,000 properties throughout the Lower Mainland, have now been released.
Overall, the Lower Mainland’s total assessments increased from about $2 trillion in 2024 to $2.01 trillion this year. About $27 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties.
“Across the Lower Mainland and throughout B.C., the overall housing market has generally stabilized in value for a second consecutive year,” says BC Assessment Assessor Bryan Murao. “Most homeowners can expect only modest assessment changes in the range of -5% to +5%.”
The total number of BC properties assessed in 2025 is 2,207,009, an almost one percent increase from 2024 and the total value is about $2.83 trillion, an increase of about 1.5 percent from 2024. The amount of non-market change for 2025, including new construction, rezonings and subdivisions is approximately $38.3 billion, a decrease of over 3 percent from 2024’s $39.6 billion.
BC’s 2025 Top 500 Valued Homes can be seen here
A property owner may submit a Notice of Complaint (Appeal) by January 31st, for an independent review by a Property Assessment Review Panel if they feel the assessment is inaccurate. Typically, about 2% of property owners contest the assessments and proceed to a formal independent review.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between February 1 and March 15 to hear formal complaints.
The Lower Mainland region includes all of Greater Vancouver, the Fraser Valley as well as the Sea to Sky area and the Sunshine Coast.
BC Assessment’s website at bcassessment.ca includes more details about 2025 assessments, property information and trends such as lists of 2025’s top valued residential properties across the province and an interactive map.
Business Examiner Staff
