01/02/2015 03:04 EST | Updated 03/04/2015 05:59 EST

Vancouver-Sea to Sky assessed home values increase 8 per cent

B.C. Assessment says assessed property values in the Vancouver-Sea to Sky area are up eight per cent over last year.

The region's assessment roll grew in value by about $33 billion, $5.7 billion of which was added through subdivisions, rezoning and new construction, it said.

The increase in the total assessed value of homes in Vancouver itself, is higher than in the rest of the region, up 11 per cent, from 254 billion to $280 billion.

The most expensive house in B.C. is in Vancouver and belongs to LuluLemon Athletica founder Chip Wilson. It is assessed at $57.6 million, up from $54.2 million in 2014.

James Island, 20 km north of Victoria, is the second highest assessed property in B.C. at $51 million.

The value of the Vancouver mansion at 4707 Belmont Ave, the third highest B.C. property on the list, is $50 million, up from $46 million last year.

With the exception of James Island, the 10 richest properties in B.C. are in Vancouver and five of them are on Belmont Avenue.

Overall, every jurisdiction in the Vancouver-Sea to Sky assessment region which includes, Vancouver, North Vancouver, (District and City),  West Vancouver, Squamish, Whistler, Pemberton, the Sunshine Coast and Bowen Island, saw an increase in assessed property values.