A detached ocean-view house at 3085 Point Grey Road in Kitsilano, owned by Lululemon co-founder Chip Wilson, has been valued as BC’s most expensive property for the third year in a row, at $63.87 million, according to BC Assessment Roll figures released January 4.
Last year the 30,600-square-foot property was valued at $57.6 million, so it has seen a rise of nearly 11 per cent – more than $6 million.
The province’s second-ranked property is around the corner at 4707 Belmont Avenue in Point Grey – a street commonly known to locals as Billionaires’ Row. That home, which ranked third last year, is now valued at just over $57 million as of July 1, 2015, up from $50.1 million the previous year.
The only non-Westside property to make BC’s top five is an entire private Gulf island – James Island, which is valued at $51.6 million and ranks in third place, down from second place in 2015.
The fourth and fifth properties on the list are also on Belmont Avenue and Point Grey Road, respectively.
The total value of residential real estate in Vancouver has risen by 16.96 per cent over the past 12 months – much steeper than last year's 9.5 per cent but only the fourth largest increase of any area in the province, according to the 2015 BC Assessment Roll. See full story here.