Photo credit: Jonathan Hayward/The Canadian Press

Nanaimo real estate sales and prices continued to climb in 2016

By Dan Marshall
January 6, 2017 - 9:53am Updated: January 6, 2017 - 12:33pm

NANAIMO — A lack of inventory drove central island housing prices up in 2016, according to the Vancouver Island Real Estate Board (VIREB).

The average sale price in Nanaimo last year was $447,336. That number was $482,475 in Parksville/Qualicum.

A Nanoose Bay home valued at $10.4-million
A Nanoose Bay home valued at $10.4-million Photo credit: Google Maps

Jump in Nanaimo home values doesn't automatically equal tax hike

By Dominic Abassi
January 4, 2017 - 12:46pm

Nanaimo saw the highest median increase in property values of any jurisdiction north of the Malahat, according to data from BC Assessment.

However, that doesn't automatically mean property taxes will be shooting up, says Diane Hiscock of the city of Nanaimo's Finance Department.