2026 Surrey Property Assessments: What Homeowners & Buyers Need to Know

The 2026 property assessment notices have been released across British Columbia by BC Assessment, reflecting market values as of July 1, 2025. These assessments are a key snapshot of where property values stand — and Surrey homeowners and potential buyers should pay close attention. BC Assessment

In this blog, we’ll break down what the latest numbers mean for Surrey, how they compare to neighbouring markets, and why these figures are more important than ever if you’re thinking about buying or selling a House for sale in Surrey, BC.

BC Assessment Surrey Home Prices

📉 Surrey: Assessments Show a Market Softening

The 2026 assessments show a trend that many in the real estate industry have been watching closely — a decline in property values across much of the Lower Mainland as the market cools. In Surrey:

Single‑family homes saw a decrease in typical assessed value from approximately $1,563,000 (2025) to $1,464,000 (2026) — a ~6% decline. BC Assessment
Strata properties (condos/townhomes) also recorded a drop, with typical values going from $695,000 to $649,000 — about 7% down year‑over‑year. BC Assessment

These figures are significant for Surrey, which has seen strong growth over recent years. It signals a more balanced market — and potentially more opportunities for buyers.

📌 It’s important to remember that assessments reflect market values as of mid‑2025, not current market activity. Values may have moved since then depending on trends late in 2025 and early 2026.

🏘 What This Means for Buyers

For those looking for a House for sale in Surrey, BC:

👉 More Buying Power

Falling assessments can mean less competition and more negotiation flexibility compared with peak market pricing.

👉 Property Taxes Aren’t Set in Stone

Even though assessments have dropped, this doesn’t automatically mean lower property taxes — this depends on municipal budget decisions and how your property’s assessment compares to the average change in Surrey. BC Assessment

👉 Great Time to Explore New Listings

If you’ve been waiting for the right moment to enter the Surrey market, this stabilization could be that opportunity. Inventory may adjust as pricing pressure eases.

👩‍💼 Insight for Sellers

Sellers might see these assessment drops as a concern, but it’s vital to understand today’s market dynamics:

📊 Assessments Don’t Equal Selling Price

Assessment values are estimates and don’t always reflect current asking prices or recent sale prices — especially in a transitioning market.

📍 Surrey Is Still a Strong Market

Long‑term demand remains strong due to Surrey’s growth, infrastructure investments, and family‑friendly neighbourhoods. Short‑term dips can be a healthy market correction rather than a downturn.

📊 How Surrey Compares Across the Lower Mainland

Compared with other Metro Vancouver and Fraser Valley cities:

Community	Single‑Family Assessment Change
Surrey	–6% BC Assessment
White Rock	–9% BC Assessment
Richmond	–8% BC Assessment
Langley Township	–3% BC Assessment

Surrey’s decline was less severe than in some urban cores like White Rock and Richmond, but more than in nearby Langley — highlighting unique local dynamics. BC Assessment

🛠 What This Means for Property Taxes

BC Assessment figures form the base for property taxes, but your tax bill depends on how your assessment compares to the average in Surrey, and how the city sets its tax rates. A lower assessment doesn’t always translate to a lower tax bill — especially if other assessments in the area also decrease. BC Assessment

🗓 Important Dates & Options

If you believe your assessment isn’t accurate:

📍 You can request a review or appeal through BC Assessment — typically by early February each year. BC Assessment

📍 Your assessment notice will detail how to contact BC Assessment and access online tools.

📌 Final Thoughts: Surrey’s Market Still Moving

While 2026 assessments show a cooling trend, transferring that directly to current market conditions requires context. Surrey continues to evolve with strong demand drivers — growth in employment, transit expansion, and family‑oriented communities.

For anyone shopping for a House for sale in Surrey, BC, these assessment figures provide useful perspective — but should be just one of many tools you use in your decision‑making process.

📣 Additional Resources

Search your 2026 property assessment online: bcassessment.ca BC Assessment
Tips for buying in a shifting market – Local real estate listings
2026 BC homeowner grant info — updated annually by the provincial government

📞 Contact Us

Have questions about your home’s assessment or the Surrey real estate market? Contact our local Realtor today for insights tailored to you.

⚠️ Disclaimer

This blog is informational and should not be considered financial, tax, or legal advice. Always consult professionals for specific guidance related to your property.