Heritage designation may boost value of homes

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Heritage designation may boost value of homes

Postby newsposter » Sun Oct 15, 2006 8:53 pm

Courtesy David Plouffe, Calgary Heritage Planner:

The Vancouver Heritage Foundation has published research into the impact of heritage registration and designation (protection) on the value of heritage homes. As you'll see, the results are mixed, but it suggests that official heritage categorization can have a positive rather than negative impact on property values.

To see the full report, visit the following and click on the links at the bottom left. Pictures and prices are in the Appendix:
http://www.vancouverheritagefoundation. ... earch.html

Summary - Vancouver Heritage Foundation:

Heritage Protection: Fact and Fiction

Popular opinion in Vancouver often asserts that legal protection on a single family residential heritage property lessens its value. This generalized opinion is most likely true for some properties with unique development potential, but the VHF was hearing that this opinion was not universally shared by our grant recipients.

To begin to examine whether fact follows fiction, the VHF completed a research project comparing the assessed value of Heritage Register, designated heritage and non-heritage properties in four Vancouver neighbourhoods (Strathcona, Kitsilano, Mount Pleasant & Hastings Sunrise). Through tax roll information and neighbourhood drive-arounds, buildings were selected that were similar in size and included houses legally protected through VHF grants.

The study showed that between 1999 and 2005 the Heritage Register and designated heritage houses increased almost the same (42.1% & 42% respectively), while non-heritage houses increased at a slightly slower rate (39%).

:arrow: Links to more studies of this nature will be posted soon. Please check back.
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