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Nanaimo's top 10 highest-assessed properties

B.C. Assessment reports zero-per cent change in property values for 2025
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The area's residential properties with the highest assessed values are once again in Stephenson Point in Nanaimo and along Dickinson Road in Lantzville. (Chris Bush/News Bulletin)

Nanaimo’s property owners likely won’t see much of a shift in their assessed property values when they receive their notices in the mail this year. 

B.C. Assessment released its latest assessment numbers for 2025 on Thursday, Jan. 2, and values across the board changed little for the Nanaimo area compared to those released last year. Property value assessments represent the value of properties as of July 1, 2024, and are influenced by factors that include sale prices of nearby properties, and the area’s real estate market and development activity. 

“Most homeowners in Nanaimo can see a relative flat change from their assessment from last year,” said Maurice Primeau, B.C. Assessment Vancouver Island residential properties deputy assessor. “Most homeowners throughout Vancouver Island can expect very little change for their 2025 assessments, generally being in the range of minus-five to plus-five per cent.” 

The small variance follows a drop of about three per cent in property values for Nanaimo in the 2024 assessments after substantial increases in assessed property values the previous two years. 

Overall, the average home in Nanaimo in 2025 is assessed at $760,000 compared to $759,000 for 2024 or a zero-per cent change, according to B.C. Assessment. Assessments for Nanaimo’s condos and townhouses fell one per cent from $447,000 to $443,000. 

Homes in Lantzville were assessed at an average of $943,000 for 2025 versus $931,000 in 2024, a one-per cent increase. 

No residential properties in Nanaimo made it onto the list of Vancouver Island's top 100 highest-value properties. 

“What I would say is there’s been a bit of a cooling demand recently,” Primeau said. “Interest rates were high last year. People are being more cautious about their spending, but I think we’re seeing a cooling of the market, post-pandemic, and property owners are being more savvy to what they’re paying for real estate.” 

Primeau said he’s encouraging property owners to visit the B.C. Assessment website to check for changes in their property value assessments, ask questions and appeal assessments they don’t agree with. Property owners have until Jan. 31 to appeal. 

“I think one of the big things right now, as a result of the Canada Post labour disruption, is assessment notice delivery may be delayed,” Primeau said. 

To give property owners ample time to view their assessments, B.C. Assessment has made a copy of the 2025 property assessments available on its website so property owners can review assessment information, including classification exemptions, which are not available on the assessment search service.

“I’d really encourage readers to go to our website and examine their property assessment,” Primeau said. “They can look at free online property assessment information, look at their properties, compare to others. Give us a call. Our appraisers are standing by in the month of January to answer any inquiries about assessments.” 

To learn more, visit www.bcassessment.ca. To ask about property assessments, call 1-866-835-8322.

Nanaimo’s highest-assessed residential properties: 

1. 5025 Hinrich View $4,911,000

2. 3372 Stephenson Point Rd. $4,844,000

3. 5512 Hiquebran Rd. $4,654,000

4. 3384 Stephenson Point Rd. $4,112,000

5. 5508 Hiquebran Rd. $3,740,000

6. 3432 Stephenson Point Rd. $3,360,000

7. 3484 Arrowsmith Rd. $3,315,000

8. 3394 Stephenson Point Rd. $3,263,000

9. 5019 Hinrich View $3,131,000


Lantzville’s highest assessed residential properties: 

1. 6970 Dickinson Rd. $5,919,000

2. 7386 Sunbury Rd. $5,761,000

3. 6952 Dickinson Rd. $5,564,000

4. 6960 Dickinson Rd. $5,509,000

5. 6998 Strait Rd. $5,157,000

6. 6940 Dickinson Rd. $4,827,000

7. 7600 Harby Rd. $4,816,000

8. 7972 Lantzville Rd. $4,638,000

9. 7088 Dickinson Rd. $4,655,000

10. 7052 Myron Rd. $4,070,000


Nanaimo’s highest-assessed commercial properties:

1. 6631 Island Hwy. N. (Woodgrove Centre) $216,013,000

2. 1000 Wave Pl. (Nanaimo Forest Products-Harmac) $135,050,300

3. 3200 Island Hwy. N. (Country Club Centre) $82,271,000

4. 4750 Rutherford Rd. (Nanaimo North Town Centre) $78,682,000

5. 300 Howard Ave. (DLX on Third) $50,871,000

6. 650 Terminal Ave. (Port Place Shopping Centre) $50,113,000

7. 6200 Oliver Rd. (Canadian Tire) $42,495,000

8. 5801 Turner Rd. (Longwood Station) $40,444,000

9. 6900 Island Hwy. N. (Dickinson Crossing) $37,748,000

10. 2000 Island Hwy. N. (Brooks Landing) $36,122,000

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Chris Bush

About the Author: Chris Bush

As a photographer/reporter with the Nanaimo News Bulletin since 1998.
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