Author: admin

Home values in B.C.’s Lower Mainland are decreasing, and pricey properties are not immune.

The province’s top 10 most expensive residential properties, including ritzy mansions replete with pools and tennis courts and a private island acreage with a golf course, all fell in value in this year’s list.

Most of those homes are located in the Lower Mainland: eight are in Vancouver, one on the West Vancouver waterfront, and one a private Gulf Island.

B.C. Assessment, the Crown corporation that appraises properties, announced the 2026 property assessments in a news release Friday.

The assessments reflect market values as of July 1, 2025.

Notices will be mailed to property owners, and members of the public can also look up assessments on the B.C. Assessment website.

Top 3 most expensive B.C. properties in 2025

1. The Kitsilano abode of Lululemon founder Chip Wilson at 3085 Point Grey Rd., which has topped the list of the province’s most valuable homes since 2014, was assessed at $73,457,000 for 2025.

The seven-bedroom, nine-bathroom home decreased in value by 11 per cent over last year’s $82,664,000 assessment.

2. A 10-bedroom, 16-bathroom home at 4707 Belmont Ave. in Vancouver’s Point Grey neighbourhood has been valued at $69,878,000.

The home, overlooking Vancouver’s stunning Spanish Banks, decreased in value by 2.59 per cent.

3. Assessed at $57,096,000, James Island, a 311-hectare private island about a kilometre east of the Saanich Peninsula, is the third most valuable property in the province.

Previous real estate estate listings for the island showed the property includes a Jack Nicklaus-designed golf course, white sand beaches and six cottages.

The acreage fell in value by 0.75 per cent — or $430,000.

B.C.’s three most valuable properties have remained unchanged in ranking since at least 2017.

Top values outside of the Lower Mainland

Aside from James Island, the top valued property outside of the Lower Mainland was an acreage in Nanoose Bay on Vancouver Island, about 20 kilometres northwest of Nanaimo. 1365 Dorcas Point Rd. was valued at $20,573,000, making it the 75th most expensive home in all of B.C.

The most expensive property in B.C.’s North was a $4,703,000 acreage at 6653 Lakeshore Dr. in the Peace River region, about 220 kilometres northeast of Prince George.

And in the Southern Interior, the priciest property was a single-family home valued at $14,771,000 in the District of Lake Country at 12990 Pixton Rd. It ranked No. 239 on B.C.’s list of 500 top valued homes.

Values decrease in Lower Mainland, vary elsewhere

B.C. Assessment said many homeowners in the Lower Mainland can expect some decreases in assessed value, ranging between -10 per cent to zero per cent, according to assessor Bryan Murao.

There are fewer changes and flatter values on Vancouver Island and in the Southern Interior, from -5 per cent to +5 per cent, while assessments in the North and the Kootenays can vary from -5 per cent to +15 per cent, Murao said in the release.

B.C. Assessment appraised more than 2.2 million homes in 2025, about a one per cent increase from 2025, with the value totalling $2.75 trillion, a decrease of almost 2.5 per cent from last year.

Hasan Juma, a real estate agent with Oakwyn Realty, said in an interview that he had spoken to a number of homeowners already who were experiencing sticker shock, having seen their assessed value decrease.

He said the drop in average values in the Lower Mainland was expected among those in the real estate world, given analysts have said for months that it is a buyer’s market.

“It’s possible the gap gets larger between what a buyer is willing to pay and, you know, what a seller is willing to accept,” Juma said.

HOUSTON, Jan. 2, 2026 /PRNewswire/ — Prosperity Bancshares, Inc.® (“Prosperity”) (NYSE: PB), the parent company of Prosperity Bank®, today announced the completion of the merger of American Bank Holding Corporation. (“American”) with and into Prosperity and the merger of American’s wholly owned subsidiary, American Bank, N.A. (“American Bank”), headquartered in Corpus Christi, Texas, with and into Prosperity Bank, all effective on January 1, 2026.

Under the terms of the merger agreement between Prosperity and American, Prosperity issued 4,439,981 shares of Prosperity common stock to the former shareholders and award holders of American.

Stephen Raffaele, former Director and President of American and CEO and former President of American Bank, has joined Prosperity Bank as South Texas and San Antonio Area Chairman and Ben Wallace, former American Bank Chairman, has joined Prosperity Bank as South Texas Senior Chairman. Additional members of American Bank management will maintain leadership roles in the combined organization. In addition, Mr. Raffaele and Patt Hawn Wallace, former Chair of American and a former Director of American Bank, have joined the Board of Directors of Prosperity Bank.

American Bank operated eighteen (18) banking offices and two (2) loan production offices in South and Central Texas including its main office in Corpus Christi, and banking offices in San Antonio, Austin, Victoria and the greater Corpus Christi area including Port Aransas and Rockport and a loan production office in Houston, Texas. American Bank banking locations will continue to operate under the American Bank name until the operational integration, which is scheduled for September 2026. At that time, American Bank customers may begin using any of Prosperity Bank’s full service banking centers.

About Prosperity Bancshares, Inc. ^®

As of September 30, 2025, Prosperity Bancshares, Inc.® is a $38.330 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

As of September 30, 2025, Prosperity operated 283 full-service banking locations: 62 in the Houston area, including The Woodlands; 33 in the South Texas area including Corpus Christi and Victoria; 61 in the Dallas/Fort Worth area; 22 in the East Texas area; 31 in the Central Texas area including Austin and San Antonio; 45 in the West Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita Falls; 15 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.

Cautionary Notes on Forward-Looking Statements 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,” “may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity’s possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity’s future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity’s loan portfolio and allowance for loan losses, changes in deposits, borrowings and the investment securities portfolio, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity’s future operations, future or proposed acquisitions, including the integration of American, the future or expected effect of acquisitions on Prosperity’s operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of each of the proposed transactions, and statements about the assumptions underlying any such statement. These forward‑looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of Prosperity’s control, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These risks and uncertainties include, but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks, including American; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction, including American, are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of American or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity’s securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; and weather. Prosperity disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other factors are discussed in Prosperity’s Annual Report on Form 10-K for the year ended December 31, 2024, and other reports and statements Prosperity has filed with the Securities and Exchange Commission (“SEC”). Copies of the SEC filings for Prosperity may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

SOURCE Prosperity Bancshares, Inc.