Chip Wilson’s Home Remains BC’s Most Valuable Property, Rising $6M Last Year

Joannah Connolly
January 4, 2016

 

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.

Joannah Connolly
Joannah Connolly is editorial director of Glacier Real Estate, Glacier Media's real estate division. Joannah writes and curates real estate news for Glacier Media's local newspaper websites, including the Vancouver Courier, North Shore News, Burnaby Now, Tri-City News and others. She also oversees editorial content in Real Estate Weekly Homes, West Coast Condo, Western Investor and Glacier's special real estate publications. A dual Canadian-British citizen, Joannah has 22 years of journalism and editing experience in Vancouver and London, with a background in construction, architecture, healthcare and business media. Joannah has appeared on major local TV outlets as a real estate commentator, has moderated and spoken on various industry panels, and spent two years hosting the Real Estate Therapist radio show on Roundhouse Radio.