Big views. Big properties. Expansive wine cellars, architectural cred and infinity pools dripping down to the waterfront.
Those are just some of the sought-after boxes to be checked among the North Shore’s most luxurious mansions.
This year, 100 of the top 500 assessments in the province are on the North Shore, and over half of them on the waterfront in West Vancouver.
Fifteen of the top 100 assessed properties are in West Vancouver this year, with neighbourhoods like Bellevue Avenue’s “Golden Mile”, Erwin Drive and Radcliffe Avenue, sharing space on the list with homes in Vancouver’s Point Grey Road and Belmont Avenue.
The West Vancouver neighbourhoods of the uber-rich are home to tech entrepreneurs, investment fund managers and people like mining and entertainment executive and philanthropist Frank Giustra, who has hosted former U.S. President Bill Clinton, said West Vancouver real estate agent Calvin Lindberg of Angell Hasmann and Associates.
Homes designed by architectural icon Russell Hollingsworth tend to make the list, as do properties with expansive waterfront views and massive mansions, tennis courts and pools.
“Big homes are a thing of the past,” said Lindberg. “So existing ones will increase in value.”
3330 Radcliffe Ave. West Vancouver. Mike Wakefield, North Shore News
Hollingsworth-designed waterfront mansions top assessment rolls
Most of the top-ranked properties are ones regularly appear on the list.
Topping the list once again is a five-bedroom, six-bathroom mansion on the West Bay waterfront in West Vancouver, custom designed by architect Russell Hollingsworth on a large property at 3330 Radcliffe Ave., valued this year at just under $34.4 million. That’s up about three per cent over last year’s assessment of $33.2 million, but still just shy of the stratospheric value of more than $35 million which the property reached in 2017. It’s lowest value in the past five years was in 2020, when the property was assessed at a mere $26.5 million.
The second-highest assessment was another West Vancouver Hollingsworth-designed Dundarave waterfront mansion. The three-bedroom, seven-bathroom 9,000-square-foot home, on a large property at 2588 Bellevue Ave., was valued at more than $27.8 million this year – down slightly about three per cent from its $28.73 million value last year. That property’s highest value topped out at $30.92 million during the real estate gold rush six years ago and fell as “low” as $21.58 million during the pandemic in 2021.
A Chartwell mansion at 1690 Marlowe Place in the British Properties – another familiar address in the top assessment list – was third highest this year with a value of over $27.05 million, down just slightly from last year’s $27.05 million assessment.
Directly across the street, the neighbouring mansion at 1669 Marlowe Pl. also made the list of highest-assessed properties, coming in at number seven this year, with an assessment of just under $22.8 million.
1669 Marlowe . Mike Wakefield, North Shore News
West Bay neighbourhood sought after
Rounding out the Top 10 highest assessments were similar neighbouring homes in West Bay or similar neighbourhoods, valued at between $22 million and $26 million.
There’s only so much waterfront, Lindberg said, and those with means want their piece of it.
In the No. 4 spot was a $26.2 million home at 3378 Radcliffe Ave. The six-bedroom seven-bathroom modernist masterpiece of over 7,500 square feet was architecturally designed by Lamoureux Architects and Paul Sangha Landscape Architects and built over two former lots in 2014. Its property value shot up almost 50 per cent in one year after it sold for $32.8 million in a private sale.
Number five was another West Bay waterfront mansion. The six-bedroom, nine-bathroom home on a massive lot at 130 Oxley St. was assessed at $24.4 million.
The sixth highest assessment was a five-bedroom, seven-bathroom home of approximately 14,000 square feet that occupies a huge lot on the West Bay waterfront at 3110 Travers Ave, assessed at just under $24 million.
This home at 3350 Radcliffe, was assessed at just under $22.5 million. BC Assessment
A third home on the exclusive Radcliffe Avenue, at 3350 Radcliffe, was the eighth highest assessment, valued at just shy of $22.5 million. The colonial style eight-bedroom 10-bathroom home of approximately 10,000 square feet built on a .62 acre lot in 2002.
This West Vancouver luxury home at 5365 Seaside Place sold for $22.7 million at the end of August 2021. Courtesy of Malcolm Hasman / Angell Hasman & Associates Realty Ltd.
The property ranked number seven on the list of highest assessments was a modern 8,800-square-foot waterfront home at 5365 Seaside Place in Caulfield, assessed at just over $22 million. Situated on a private, gated peninsula and boasting an infinity pool, outdoor spa and boathouse, the four-bedroom, seven-bathroom home was sold for $22.7 million in 2021 by Malcolm Hasman at Angell Hasman & Associates Realty Ltd, which was the highest sale that year.
4343 Erwin Drive West Vancouver . Mike Wakefield, North Shore News
A waterfront four-bedroom, seven-bathroom property at 4343 Erwin Dr. was No. 10 this year with an assessment of just under $22 million. It last sold in March 2020 for $19 million.
2250 Indian River Cres is the top assessment in North Vancouver. Mike Wakefield, North Shore News.
Secluded forest compound tops North Van assessments
In the District of North Vancouver, the top North Vancouver assessment continued to be a secluded 14-acre compound in the woods above Deep Cove, at 2250 Indian River Cres., assessed at $15.8 million – up just shy of two per cent from last year. The property includes a 9,000-square-foot custom West Coast home as well as a pond and Japanese-inspired garden, although much of its property value is in its subdivision potential.
All North Vancouver’s other top-assessed properties continue to be found in a neighbourhood on the Dollarton waterfront ranging in value from $11.8 million to $14.6 million.
The second and third top assessments were neighbours within a block of each other on Beachview Drive. A six-bedroom, six-bathroom home at 754 Beachview Dr., valued at just under $14.6 million, occupied the number two spot. The value of the deluxe 8,850-square-foot six-bedroom home was up 16 per cent over last year after it sold in September 2022 for $14.9 million.
Features of the oceanfront mansion include an infinity pool, 10-person hot tub, golf putting green, dock with boat lift, four-jet-ski slip and private ramp. Inside features double height ceilings, Miele appliances, movie theatre, billiard area, gym, sauna, steam room and wine room.
The third highest assessment in the District of North Vancouver was on the same street, less than a block away – a ten-bedroom, 14-bathroom 14,000-square-foot mansion on .6 of an acre of waterfront at 828 Beachview Dr. It was assessed at just over $13.96 million.
A home at 754 Beachview Drive in North Vancouver was assessed at $14.6 million. Zealty.ca
Highrise havens top valued in City of North Van
All the City of North Vancouver’s top 10 assessments were once again waterfront condominiums, ranging in assessed value from $4.9 million to $9 million.
The top assessment in the city was a penthouse suite in a waterfront condominium tower at 1301-199 Victory Ship Way, assessed at $8.99 million – down from its $10.4 million assessment last year. Eight of the top assessed condos were in a neighbouring building at 175 Victory Ship Way.
The second-highest assessment was close by, at 901-185 Victory Ship Way, assessed at just under $6.6 million.
The third-highest assessment in the city – a 3,000-square-foot sub-penthouse at 905-175 Victory Ship Way – was also the top sale in the City of North Vancouver in 2021, going for $5.8 million in Feb 2021. It is currently assessed at $5.15 million.
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
