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 – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
