Single‑family homeowners in Sidney, British Columbia, are facing a valuation disconnect between the province’s assessment notices and more recent market measures as of January 25, 2026. While BC Assessment’s 2026 notices — which reflect estimated values as of July 1, 2025 — show a small increase in typical assessed values for Sidney, late‑2025 market indicators point the other way.
According to the Victoria Real Estate Board (VREB), the MLS® Home Price Index (HPI) benchmark value for a single‑family home in the Victoria Core fell 4.7% year‑over‑year, to $1,255,000 in December 2025. At the same time, BC Assessment’s regional release and local reporting indicate typical assessed values in Sidney rose by about 2% for 2026; BC Assessment’s figures are based on market conditions as of July 1, 2025.
That gap between assessed values and recent appraisal‑driven market values is creating friction for many homeowners trying to renew mortgages or tap home equity. Local mortgage experts, including Kelly Hudson (mortgage broker), warn that lender‑ordered appraisals — which use the most recent comparable sales — have in some cases come in lower than homeowners expect. When an appraisal is lower than the assessed or previously recorded value, lenders may reduce the approved loan amount or require larger down payments.
The market shift has coincided with more inventory: active listings across the VREB region were about 11.1% higher at the end of December 2025 than a year earlier (2,544 active listings versus 2,290). That increase gives buyers more negotiating room, while sellers may need to adjust expectations to align with lower lender appraisals and softer benchmark values being recorded across parts of the Saanich Peninsula.
