Chip Wilson’s mansion stands as the most valuable residential property in British Columbia, assessed at an impressive $73.4 million. This figure marks a decrease of 11 percent, compared to last year’s assessment of $82.7 million. Wilson, the founder of Lululemon, resides in this opulent seven-bedroom, nine-bathroom home located at 3085 Point Grey Road in Vancouver’s Kitsilano neighborhood.
The Most Valuable Homes in B.C.
The annual B.C. Assessment report, released on Friday, highlights the shifts in the real estate landscape. The assessments reflect market values as of July 1, 2025. Notably, all of British Columbia’s top ten most expensive homes saw a decline in value this year.
Top Three Most Expensive Properties in 2025
- 1. Chip Wilson’s Mansion:
- Address: 3085 Point Grey Rd., Vancouver
- Valued at: $73,457,000
- Decrease: 11% from $82,664,000
- 2. Property at 4707 Belmont Ave:
- Location: Point Grey, Vancouver
- Valued at: $69,878,000
- Decrease: 2.59%
- 3. James Island:
- Size: 311 hectares
- Location: Gulf of Georgia
- Valued at: $57,096,000
- Decrease: 0.75% ($430,000)
Regional Overview
Most of the province’s high-value homes are situated in the Lower Mainland, with eight properties located in Vancouver. An additional property is found in West Vancouver, while the last is on a private Gulf Island. All these locations experienced a decline in assessed values this year.
Properties Outside the Lower Mainland
Some notable homes outside the Lower Mainland include:
- 1365 Dorcas Point Rd:
- Location: Nanoose Bay
- Valued at: $20,573,000
- Rank: 75th in B.C.
- 6653 Lakeshore Dr:
- Location: Peace River region
- Valued at: $4,703,000
- Highest valuation in B.C. North
- 12990 Pixton Rd:
- Location: District of Lake Country
- Valued at: $14,771,000
- Rank: 239th in B.C.
Market Trends and Future Outlook
According to B.C. Assessment, homeowners in the Lower Mainland may see property value reductions ranging from 10 percent to stable values. In contrast, properties on Vancouver Island and in the Southern Interior exhibit minor fluctuations from negative to positive values.
The total assessed value of more than 2.2 million homes in B.C. is approximately $2.75 trillion, reflecting a decline of nearly 2.5 percent from last year.
Market analysts predict a 16 percent drop in home sales in the Greater Vancouver area in 2025. This trend suggests a potential buyer’s market, as many homeowners are already expressing surprise at the decreased values.
