The unassuming exterior of the most expensive residential property in Langley. (BC Assessment)

The unassuming exterior of the most expensive residential property in Langley. (BC Assessment)

Land key ingredient for some of Langley’s most expensive lots

BC Assessment has released the values of the most expensive properties in the City and Township.

The top five most expensive properties in Langley City and Township show that land is still vital to value.

The most expensive properties in Langley Township are:

1. A $17.2 million propery in the 19600 block of Zero Avenue, on 29.4 acres near the High Point development.

2. A $7.7 million property in the 22300 block of Highway 10, with a four-bedroom house built in 1936 and 78.8 acres of land.

3. A $7.5 million property in the 4900 block of 264th Street, which has a small house built in 1931 and which has added more than $4 million worth of buildings in the last year.

4. A $7.2 million home in the 2100 block of 206 Street, with a three-bedroom home and 9.4 acres of land.

5. A $7.2 million home in the 5000 block of 224 Street, with a three-bedroom house and 76.21 acres of land, on the eastern edge of Murrayville.

Langley City’s top homes were typically lower in value, but in the dense community, land value was still a big part of the reason for their assessment.

The most expensive properties in Langley City are:

1. A $2.2 million home in the 20400 block of 46A Avenue, with 40,000 square feet of land.

2. A $1.9 million four bedroom, six bathroom home in the 4600 block of 204 Street, with 70,000 square feet of property.

3. A $1.78 million lot in the 20500 block of Grade Crescent, on 30,000 square feet of land.

4. A $1.77 million property in the 20900 block of Newlands Drive with seven bedrooms and 23,000 square feet of land.

5. A $1.76 million home on Grade Crescent, this tim in the 20400 block, on 37,000 square feet of land.

The overall changes in Langley for larger properties were relatively small.

The biggest percentage changes this year were for condos and townhouses, which increased in value 30 to 40 per cent across Langley and much of the Lower Mainland.

Locally, there were a few trends assessors noted.

“The acreages in Brookswood have seen a larger than average [increase] as well,” Smith said.

Langley Township council recently passed the new Brookswood-Fernridge Official Community Plan, which will help define redevelopment of South Brookswood over the next 30 years. Developers had already started subdividing some lots into 7,000 square foot properties.

Aldergrove remains a little cheaper than the rest of Langley.

“Aldergrove is typical of increases that the rest of the Township has seen,” Smith said.

Its single family homes remain less expensive, but are rising in value.

Langley Advance