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Triple-net leases are common throughout British Columbia’s commercial real estate market. Under a typical triple-net (or “NNN" lease), the tenant pays a base rent to the landlord and is also responsible for its proportionate share of the property’s operating costs. These additional costs commonly include property taxes, building insurance, maintenance and other expenses. The concept seems reasonable: if a business occupies 30% of a commercial building, it pays approximately

2026 Market Shows Softer Pricing but Faster Decisions Hope everyone had a happy BC Day Long Weekend! We are back (on a Tuesday) with a 'Micro Market Analysis' for the City of Powell River. Each week we have appraisers from our office make the trip across the Salish Sea from Comox to Powell River. We know this market. The City of Powell River single-family dwelling market remains active, but buyers are clearly price-sensitive. Jackson & Associates reviewed 796 completed ML

This week, members of our team were in Gold River completing a depreciation report for a self-managed 22-unit apartment-style strata corporation. While the assignment focused on one property, it reinforced an important lesson that applies to strata corporations throughout British Columbia. One of the most significant influences on future replacement costs is often not the building itself. It is the community in which the building is located. Depreciation Report - Gold River C

Why Acreage, Waterfront and Zoning Matter in These Complex Rural Market Areas Merville and Black Creek are often grouped together as one Vancouver Island Real Estate Board market sub area. From an analytical perspective, however, this is certainly not one uniform real estate market. Properties range from modest homes on smaller rural lots to agricultural acreages, manufactured homes, vacant land, riverfront properties, lakefront homes and high-value oceanfront estates. Zoning

Since approximately January 1, 2022, property owners, developers, contractors and appraisers across Vancouver Island have experienced a substantial increase in the cost of constructing buildings and completing site improvements. While the most dramatic period of construction-cost inflation may have passed, prices have generally not returned to their previous levels. Instead, the market appears to have established a materially higher cost baseline. This affects much more than

Courtenay East remains one of the Comox Valley’s most active and varied detached-housing markets. The current VIREB dataset contains 507 closed single-family sales since January 1, 2022, together with 28 pending transactions and 32 active listings. Annual sales volume over the past 4 years has been relatively consistent. There were 122 sales in 2022, 104 in 2023, 123 in 2024 and 112 in 2025. For 2026 year to date, the dataset records 74 transactions: 46 closed and 28 pending.

Summer on the coast is here and vacation plans for many include a trip to one of BC's spectacular Gulf Islands. This week, we have a look at the micro-markets on three islands within the Central Gulf Island Region: Denman Island, Hornby Island, and Savary Island. A search of BC Assessment data provided by the Landcor Data Corporation indicates that Denman Island has 845 assessed residential property folios, Hornby Island has 1,116, and Savary Island, despite being the smalle

July 1 marks the effective valuation date for the next BC Assessment cycle, while July 2 was property tax deadline across much of British Columbia. That timing makes this an ideal moment to ask two important questions: What does $1,000,000 buy in today’s VIREB residential market? How close are 2026 Assessment Roll values to actual market sales? At Jackson & Associates, we reviewed 27 single-family transactions from across the VIREB region that sold (or are pending 'unconditio

Summer is here and with kids now ending school, many of us are thinking about some summer downtime and perhaps a trip to the beach. Oceanfront real estate on Vancouver Island continues to command a premium across Vancouver Island, but recent VIREB sales data shows a market that is becoming increasingly selective. Reviewing all oceanfront MLS sales and active listings across the VIREB market area (north of the Malahat) since January 1, 2024 (excluding Gulf Islands sub-area

Union Bay / Fanny Bay - VIREB Map Located the southern end of the Comox Valley Regional District – Area A, south of Royston, north of Deep Bay. One will find the small, but robust communities of Union Bay and Fanny Bay. The Union Bay / Fanny Bay single-family detached market is not a high-volume urban market. It is a smaller coastal/rural market where individual sales can materially influence annual statistics, especially when large waterfront, acreage, or estate-style prope

Luxury Living Continues to Define One of the Comox Valley's Most Distinctive Markets The Comox Peninsula remains one of the most desirable residential locations in the Comox Valley. Offering a unique mix of waterfront estates, executive homes, rural acreages, and ocean-view properties, the Peninsula continues to attract buyers seeking lifestyle, privacy, and proximity to the water. For those not familiar with the Comox Valley, the Comox Peninsula essentially encompasses all p

Heritage Character, Outdoor Lifestyle, and Long-Term Demand The Village of Cumberland remains one of the Comox Valley's most distinctive residential markets. Combining historic character, a vibrant village atmosphere, and direct access to some of Vancouver Island's most celebrated trail networks, the community continues to attract buyers seeking both lifestyle and investment value. Over the past decade, Cumberland has evolved from a former coal-mining town into one of the r

Real estate conversations often focus on sale prices, assessments, renovations, and market headlines. While these factors all play a role, property valuation is far more nuanced than many people realize. At Jackson & Associates Ltd., we appraise properties across Vancouver Island ranging from modest residential homes to waterfront estates, development sites, commercial buildings, and rural acreages. One thing we consistently observe is that small differences in property cha

Stability, Lifestyle, and Long-Term Value in One of the Comox Valley’s Premier Communities The Crown Isle community in Courtenay continues to represent one of the Comox Valley’s most recognizable and consistent upper-tier residential markets. Originally developed as a master-planned golf course community centred around the championship Crown Isle Resort & Golf Community, the neighbourhood has evolved into a mature residential market that attracts retirees, professionals, relo

The Bank of Canada may be nearing the end of its recent rate-holding cycle, but uncertainty continues to dominate the outlook for Canadian housing markets. According to the latest mortgage rate forecast from the British Columbia Real Estate Association (BCREA), geopolitical instability, elevated oil prices, and ongoing tariff concerns are creating a difficult balancing act for policymakers. For Vancouver Island buyers, sellers, and property owners, the implications are sign

Every January, British Columbia property owners receive a new BC Assessment value from BC Assessment, which is an estimate of property value as at July 1 of the preceeding year. Almost immediately, the same question starts circulating: “Is my assessment accurate?” One of the best ways to answer that question is through Assessment-to-Sale Ratio (ASR) analysis. At Jackson & Associates Ltd., we reviewed 246 verified MLS sales of single-family detached homes occurring between Jan

Commercial real estate valuation in smaller markets is often more difficult than it looks. On the surface, a commercial appraisal may appear to be a straightforward exercise. Find a few sales. Compare the price per square foot. Look at the assessed value. Review the rent. Arrive at a number. But in smaller Vancouver Island markets, that approach can miss the real story. A commercial building in Courtenay, Campbell River, Parksville, Port Alberni, Duncan, Powell River, or a sm

After attending the Condominium Home Owners Association of BC townhall meetings in Nanaimo and Langford, one thing became clear. Strata corporations are entering a new phase of complexity, and many are not structured to deal with it. This is no longer just about maintaining buildings. It is about managing interconnected systems, evolving regulations, and increasing expectations from owners. 1. Heat Pumps Are Forcing a Shift in How Buildings Operate Heat pumps and cooling syst

When many people think about depreciation reports, they picture older buildings. They think about aging roofs, worn exterior finishes, failing membranes, outdated mechanical systems, and major capital projects that can no longer be postponed. But some of the most important depreciation reports are completed much earlier than that. This week, we inspected a newer 5-storey apartment condominium building on Vancouver Island for its first depreciation report. The building feature

A Gap Between Housing & Planning Policy and Delivery Is Driving the Market Across British Columbia, every municipality is now working under the same BC Government directive: quantify housing need using a standardized model and plan for enough housing to meet it. The first step, prepare a ‘Housing Needs Assessment Report’ that models anticipated future housing needs in each municipality for 5-year and 20-year time horizons. At Jackson & Associates, we’ve taken a closer loo