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Nanaimo home values climbing, as other markets moderate

Dominic Abassi

socastcmsRssStartDominic AbassisocastcmsRssEnd5512 Hiquebran Rd., Nanaimo's third-highest valued property at $3.7-million.

By Dominic Abassi

NANAIMO — Despite headlines touting a softening real estate market and price corrections, most homeowners in the Nanaimo region were once again left stunned this week at the sharp increase in the assessed value of their properties.

The average single-family home in the city of Nanaimo zone was valued at $490,000, according to 2019 assessments released by BC Assessment. The value marks a 12 per cent jump over the average for 2018 assessments.

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