B.C.’s 10 most expensive homes see rise in value in 2021

New numbers from BC Assessment show a rise in home valuations in Metro Vancouver, and the top end of the region’s real estate market is no different.

Almost of B.C.’s top 10 highest-valued properties in the province are in the Lower Mainland, where BC Assessment said average valuations for detached homes rose between zero and 10 per cent.

Each property in the top 10 rose in assessed value compared to last year.

Topping the list of B.C.’s most valuable properties is, once again, Lululemon founder Chip Wilson’s home at 3085 Point Grey Rd. in Vancouver. The sprawling property on the city’s west side was assessed at $66,828,000, up from its previous assessed value of $64,946,000, but well short of its 2018 peak of $78,837,000.

Number two on the list, a repeat from 2020, is a 10-bedroom, 25,000-square-foot luxury mansion at 4707 Belmont Ave., which overlooks Spanish Banks.

BC Assessment valued the property at $60,362,000 in 2021, up from last year’s assessed value of $58,727,000. In 2017, the property was assessed at $71,820,000.

B.C.’s third most valuable property remains James Island. The privately-owned Southern Gulf island, which is home to a 5,000-square-foot principal residence, six guest cottages, private docks, an airstrip, a pool house and a manager’s residence, is valued at $57,980,000 for 2021, up from $56,747,000 last year.

Coming in at number four is 4719 Belmont Ave., next door to the property that took the number two slot. BC Assessment valued the home at $37,340,000 this year, up from $36,042,000 from last year.

Five of the province’s top 10 most valuable properties are on Belmont Avenue on Vancouver’s west side, while three others are a few kilometres away on Point Grey Road.

Here are B.C.’s 10 highest-valued properties for 2021, according to BC Assessment:

1. 3085 Point Grey Rd. – $66,828,000 (Previous: $64,946,000)
2. 4707 Belmont Ave. – $60,362,000 (Previous: $58,728,000)
3. James Island – $57,980,000 ($56,747,000)
4. 4719 Belmont Ave. $37,340,000 (Previous: $36,042,000)
5. 2815 Point Grey Rd. – $34,269,000 (Previous: $32,588,000)
6. 4743 Belmont Ave – $33,839,000 (Previous: $32,771,000)
7. 4773 Belmont Ave. – $32,787,000 (Previous: $31,720,000)
8. 4857 Belmont Ave. – $31,576,000 (Previous: $30,208,000)
9. 35220 Cassiar Ave., Abbotsford – $31,423,000 (Previous: $30,022,000)
10. 2999 Point Grey Rd. $30,649,000 (Previous: $29,479,000)

— With files from Simon Little