Bear Mountain mansion at 2300 Compass Pointe Place was valued at $7,909,000, up from $7,735,000. (Screenshot from Google Maps)

Bear Mountain mansion at 2300 Compass Pointe Place was valued at $7,909,000, up from $7,735,000. (Screenshot from Google Maps)

Bear Mountain house is West Shore’s most valuable as assessment jumps

2300 Compass Pointe Place was valued at $7,909,000, up from $7,735,000 last year

The most valuable house on the West Shore sits atop Bear Mountain, according to this year’s numbers from BC Assessment.

The Langford mountain-top mansion at 2300 Compass Pointe Pl. was valued at $7,909,000, up from $7,735,000 in last year’s assessment. It was built in 2007 and has six bedrooms and eight bathrooms, totaling more than 13,000 square feet in area.

The same Bear Mountain street was also home to the second and third most expensive houses in Langford, with 2200 Compass Pointe Pl. valued at $5.13 million with 2299 Compass Pointe. Pl. valued at $4.6 million.

The second most valuable property in the whole West Shore was in View Royal, at 157 View Royal Ave., valued at $6.23 million. The 2.94 acre property sits on the water opposite CFB Esquimalt. Second in View Royal was 11 Governors Point Rd., valued at $3.37 million, followed by 101 View Royal Ave., valued at $3.16 million.

Highlands had the fourth most expensive property in the West Shore. Valued at $4.72 million, the 57.64 acres property located at 301 Ross Durrance Rd. is the most expensive in Highlands; second is 4770 Talon Ridge, valued at $3.72 million and third is 4178 Munn Rd., valued at $2.99 million.

Metchosin rounds out the top five most valuable properties in the West Shore, with 3641 Park Drive valued at $4.71 million. The property sits on more than four acres and is on the waterfront near Albert Head beach. The second most expensive in Metchosin is 1555 Zanita Heights at $4.59 million and 4809 Eales Rd. valued at $4.41 million.

In Colwood, 201 Portsmouth Dr. is the most valuable property at $3.69 million. It’s more than 6,000 square feet and backs onto Esquimalt Lagoon. Two neighbouring properties on Vantage Point round out Colwood’s top 3, with 3460 Vantage Point valued slightly higher at $3.397 million than 3467 Vantage Point, which is valued at $3.395 million.

Compass Pointe was the only West Shore property to rank in the top-100 most valuable properties on Vancouver Island, with many in the Gulf Islands, up the Saanich Peninsula and in Oak Bay.

Property assessments rose throughout the area, with West Shore communities taking four of the top-five spot for highest percentage increases in terms of property assessments within Greater Victoria. Colwood ($1.02 million) and Highlands ($1.326 million) each recorded an increase of 16 per cent — four per cent above the overall increase of 12 per cent for the region (the 13 municipalities of Greater Victoria plus the Gulf Islands).

Langford ($992,000) recorded an increase of 15 per cent while View Royal ($1.132 million) recorded an increase of 14 per cent, tied with Central Saanich ($1.124 million), the only community outside the West Shore to rank among the five communities with the highest increases.

Metchosin ($1.278 million) and Sooke ($831,000) each recorded increases of 11 per cent.

Vancouver Island deputy assessor Jodie MacLennan said she could not specifically say why those communities have seen such increases.

“But I can say that we have seen tremendous growth in both of our single-family and our strata-residential property markets in those particular areas,” she said.

Assessments reflect July 1, 2022 market values and physical condition as of Oct. 31.

~ with files from Wolfgang Depner.

READ MORE: Greater Victoria’s West Shore sees highest increases in property assessments

READ MORE: Lavish $16.8M Oak Bay home tops Island’s ‘single-family residence’ assessment

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Housing MarketLangfordWest Shore

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