The latest BC Assessment values are in, and the most valuable home in Vancouver saw a massive drop in assessed value.<\/p>\n
That being said, it\u2019s still the most valuable home in Vancouver and the entire province.<\/p>\n
According to BC Assessment, the updated property assessments, which were just released, reflect market values as of July 1, 2025.<\/p>\n
\u201cThe softening housing market is being reflected in 2026 property assessments,\u201d said BC Assessment Assessor Bryan Murao in a release.<\/p>\n
\u201cMany homeowners throughout the Lower Mainland can expect some decreases in assessed value, with most changes ranging between -10% to 0%.\u201d<\/p>\n
3085 Point Grey Rd., which famously belongs to Chip Wilson, the founder of Lululemon, saw millions shaved off its assessed value.<\/p>\n
Last year, Wilson\u2019s Point Grey home was assessed at $82,664,000. Now? That value has dropped by over $9 million to $73,457,000. That\u2019s an 11 per cent drop.<\/p>\n
The value of the land has fallen more than the value of the buildings. Last year, the land at 3085 Point Grey Rd. was assessed at $50,065,000. The latest assessment has that figure down to $43,938,000. Last year, the buildings were valued at $32,599,000, which has dropped to $29,519,000.<\/p>\n
Despite the substantial drop, Wilson\u2019s home is still the most valuable in the entire province, but the gap between first and second is much smaller now.<\/p>\n
The second-most valuable property in B.C. is 4707 Belmont Ave., which is now valued at $69,878,000. The previous assessment had about an $11 million gap between the two properties. Now there\u2019s under $4 million separating the two properties.<\/p>\n
The third most valuable property in B.C. isn\u2019t a home, but James Island, and the acreage is worth $57,096,000.<\/p>\n