Market softening hits Lower Mainland
BC Assessment posted 2026 property values on Jan. 2. These figures reflect market conditions as of July 1, 2025. Lower Mainland assessments dropped from $2.01 trillion to $1.92 trillion.
Assessor Bryan Murao noted the softening housing market. Most homeowners see decreases between 0 and 10 per cent. New construction added nearly $24 billion in value.
Even so, Surrey, White Rock homes among Top 500 highest-valued residences in B.C. shows local luxury holds strong. High-end properties weather downturns better than average homes.
South Surrey’s Ocean Park leads locally
The top Surrey-area home sits at 2021 Indian Fort Dr. in Ocean Park. BC Assessment ranks it No. 116 at $18,381,000. This marks a six per cent drop from 2025’s $19,646,000.
Nearby at 2165 123 St., another Ocean Park acreage ranks No. 282. Assessors value it at $14,080,000, down 10 per cent from $15,725,000 last year.
A third South Surrey property rounds out local rankings. The home at 2189 123 St. sits at No. 381 with $12,928,000 assessed value. It fell six per cent from $13,692,000.
White Rock beachfront properties shine
White Rock claims two spots in the Top 500. The higher-ranked property at 13616 Marine Dr. comes in at No. 188. Beachfront acreage values dropped six per cent to $15,926,000 from $16,971,000.
Further along Marine Drive, 13836 Marine Dr. ranks No. 452. This property holds $12,185,000 value after a three per cent decline from $12,563,000.
These rankings confirm Surrey, White Rock homes among Top 500 highest-valued residences in B.C. maintain elite status. Oceanfront locations and large acreages command premium pricing.
What the numbers mean for homeowners
Most Surrey residents see stable or slightly lower assessments. Luxury properties show smaller percentage drops than average homes. Location continues driving top-tier values.
New construction and rezoning boost regional totals. However, broader market cooling tempers gains. Homeowners facing tax notices should expect modest changes.
The Top 500 list highlights enduring appeal of beachfront and acreage properties. Surrey, White Rock homes among Top 500 highest-valued residences in B.C. proves select neighbourhoods remain golden even in down markets.
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