2011 Assessment Roll Information
The Richmond (Chinese for "Rich Man") area of Vancouver led the charge with a gain of 17.14%.
Vancouver overall up 13.9%
Interesting that farm and managed forest land are down, in some areas, significantly (Peace River is -23%).
Some contextual data on that $1 trillion . . .
GDP of BC (2009) is $191 billion
Total income $157 billion (that's reported income, obvs)
Disposable income per capita $28,000
Total BC population 4.4 million.
1.9 million properties in BC
2.32 residents per property
$65,000 disposable income per property
GDP per capita $44,000 (CAN)
That strikes me as a precipitously high Total Valuation to GDP ratio: 5.2
For a ratio comparison, the total value of the U.S. housing stock is $16.5 Trillion with a GDP of $14.6 trillion.
For a Total Valuation to GDP ratio of 0.88
Also for comparison: GDP per capita of $48,000 (US)
Where is the economic activity to support BC's valuations?