A local realtor says any potential homebuyers in Prince George should not be discouraged about the recent property value increase to homes and strata buildings.
According to BC Assesment, single-family homes rose in value to the tune of ten percent while properties such as condos came in a shade lower at nine percent.
Bob Quinlan with Doucette Realty believes home buyers shouldn’t take the new information too seriously.
“Use it as one piece of the puzzle. Take a look at the assessment of the property your interested in buying in but then you can go online and look at the homes from across the street and look at their values and see where they are at right now.”
As for current homeowners affected by this value spike, Quinlan explains what approach should be taken in the weeks ahead.
“Take a look at how the homes in their neighborhood are assessed and that gives you a good stable idea as what it would get as a value when it comes to the average property in that neighborhood but you can also make a difference by making improvements to your home.”
An acreage located at 4205 Cowart Road was rated as the highest valued property in Prince George according to BC Assesment.
On the single-family residence side, the top value went to a home located in College Heights at 7765 St. Dennis Place.
The results come as no surprise to Quinlan who says quite a few homes fall under that distinction in those neighborhoods.
“In those areas, you will have some peripheral with some larger-sized properties but you also have some unique potential with views, privacy, access and if you took a look at those houses you would find they are pretty enormous.”
The property value increase is reflective as of July 1st, 2018.