Jackson and Associates Valuation and Consulting

04/05/2026

Happy Easter from all of us at Jackson & Associates!

We’re grateful for the clients and partners we work with across Vancouver Island and the Sunshine Coast. Wishing you a relaxing and enjoyable long weekend.

04/02/2026

A brand new strata building is often one of the easiest times to become overconfident.

When everything still looks clean, modern, and problem-free, it is easy to assume major capital planning can wait.

Usually, it should not.

This week we inspected a newer 5-storey apartment condominium building for its first depreciation report.

Buildings like this often appear low-maintenance at first glance. Modern design, ocean views, large balconies, newer roof systems, contemporary exterior finishes, and a grade-level parking structure all create a strong overall presentation.

But a depreciation report is not about whether a building looks new today.

It is about helping the strata understand:

• what common property components it owns
• which items will require future maintenance, repair, or replacement
• how costs are likely to unfold over time
• whether reserve fund contributions are keeping pace with future obligations

For newer buildings, the first depreciation report is especially important because it establishes the long-term planning baseline.

That includes looking at components such as:

• roof membranes and drainage systems
• balconies and waterproofed surfaces
• sealants and cladding transitions
• elevators and mechanical systems
• parkade structure, ventilation, and drainage
• exterior finishes exposed to coastal conditions

Modern buildings are often more complex than they appear. The earlier a strata begins thoughtful reserve fund planning, the better positioned it is to avoid surprises later.

A good depreciation report should not be viewed as just a compliance requirement.

It should be viewed as a practical planning tool for better governance, better budgeting, and better long-term decision-making.

If your strata is planning its first depreciation report, early guidance can make a meaningful difference.

03/25/2026

Housing Need vs. Housing Reality in Mid-Vancouver Island

BC housing policy is pushing for more homes.

The challenge is not whether more housing is needed. The challenge is whether the market can actually deliver it.

In our latest analysis, we reviewed mandated Housing Needs Reports across seven mid-Vancouver Island municipalities:

Courtenay, Comox, Cumberland, Nanaimo, Parksville, Qualicum Beach, and Campbell River.

We compared:
• Current housing stock
• Modelled housing need
• Actual delivery

What stood out was this:

This is not simply a demand issue. It is a deliverability issue.

Across 6 of 7 municipalities reviewed, housing stock would need to grow by roughly 50% to 70% or more over the next 20 years.

That kind of sustained growth has not historically been achieved in these markets.

This raises an important question. Are provincial housing targets grounded in real market conditions, construction economics, infrastructure capacity, and affordability?

For appraisers, developers, lenders, investors, and local governments, the more important issue is not theoretical housing need alone. It is the widening gap between what is projected and what can actually be built in the real world.

That gap matters because it directly affects land value, development feasibility, and market behaviour.

Read the full article here:

A Gap Between Housing & Planning Policy and Delivery Is Driving the MarketAcross British Columbia, every municipality is now working under the same BC Government directive: quantify housing need using a standardized model and plan for enough housing to meet it. The first step, prepare a ‘Housing N...

03/14/2026

Team Update at Jackson & Associates

We are pleased to share a team update from our office.

Aparna Vipin has recently transitioned into the role of Appraiser Assistant / Analyst at Jackson & Associates.

Aparna joined our firm in 2021 and has been an important part of our administrative team ever since. Many of our clients will recognize her as a familiar voice helping coordinate assignments and keeping projects moving forward.

Over the past several years, Aparna developed a strong interest in the research and analytical work that supports the real estate appraisal profession. With a Bachelor of Commerce degree and a growing understanding of the valuation process, transitioning into an analytical support role was a natural next step.

In her new position, Aparna is assisting our appraisal team with:

• Market and property research
• Data collection and verification
• Analytical support for valuation assignments
• Assistance with report preparation and documentation

Her attention to detail and growing knowledge of valuation methodology are already helping strengthen the appraisal services we provide to clients across Vancouver Island.

Supporting professional development within our team has been part of our culture for more than 45 years, and Aparna’s transition into this role is a great example of that philosophy in action.

Please join us in congratulating Aparna on this next step in her career.

03/11/2026

What a Week of Work Reveals About the Vancouver Island Market

This past week, our team completed inspections and reporting work on a wide range of property types across Vancouver Island and coastal B.C., including:

• Commercial strata complex in Comox
• Townhouse complex in Comox
• Townhouse complex in Campbell River
• Low-rise apartment condominium in Campbell River
• New industrial flex mall building in Cumberland
• Mixed-use commercial/residential property in Comox
• Converted home on a commercial-zoned lot in Courtenay
• Apartment building in Powell River
• Three agricultural acreage properties

Weeks like this are a good reminder that Vancouver Island is not one market. Each property type comes with its own considerations, risks, and valuation challenges.

One of the strongest themes this week was the number of strata corporations taking a proactive approach to depreciation reports. That is encouraging to see. The councils and property managers we are working with are planning ahead, rather than waiting until the market gets crowded closer to the anticipated 2027 deadline cycle.

That kind of early planning gives strata corporations more time to understand future capital costs, reserve fund needs, and long-term repair obligations. It also helps avoid the pressure that often comes with waiting until the last minute.

Whether the assignment is a depreciation report, an apartment building appraisal, an industrial valuation, or agricultural acreage, good advice starts with local knowledge and property-specific analysis.

Across Comox, Courtenay, Campbell River, Cumberland, Powell River, and beyond, that local understanding still matters.

If your strata corporation or ownership group is planning work for 2026 or 2027, getting started early is often the best decision.

03/07/2026

"No Farmers… No Food"

A simple bumper sticker message that sticks with you.

Across British Columbia, farmland is one of our most protected and limited resources through the Agricultural Land Reserve (ALR).

In the Island ALR region, which includes Vancouver Island, the Gulf Islands, and the Upper Sunshine Coast, only 1.4% of the entire land area is located within the ALR. That represents roughly 115,000 hectares of agricultural land.

Valuing agricultural property is very different from valuing typical residential or commercial real estate. ALR properties often include:

• Mixed soil capability and agricultural classifications
• Farm residences and agricultural buildings
• Water rights and irrigation systems
• Agricultural improvements and infrastructure
• Unique regulatory constraints through the Agricultural Land Commission

Each of these factors can significantly influence value.

Our latest article explores how ALR properties are valued and why agricultural appraisals require specialized experience and market knowledge.

Read the full article here:

Agricultural Land Reserve (ALR) Valuations on Vancouver Island & the Upper Sunshine CoastIn British Columbia, roughly 4.9% of all land in our province is specially designated for farm use within the Agricultural Land Reserve (ALR). Within the ‘Island’ administrative region (which includes ALR la...

02/24/2026

Depreciation in real estate versus Depreciation in Accounting. Same word, two very different meanings.

If you own property, you have probably heard “depreciation” used in two ways.

Accounting depreciation (amortization)
This is a bookkeeping method. It spreads the cost of an asset over time using set schedules. It supports financial reporting and tax planning. It does not necessarily track market value.

Appraisal depreciation
This is about market reality. In valuation work, depreciation means loss in value from replacement cost new. Appraisers typically consider:
• Physical deterioration, wear, age, deferred maintenance
• Functional obsolescence, design or utility issues
• External obsolescence, market or location factors outside the owner’s control

Physical and functional items may be curable or incurable, meaning the market may recognize a “cost to cure,” or it may not be economically fixable.

Why it matters
A property can be fully depreciated on the books and still be very valuable. Or it can show little accounting depreciation while losing value due to market conditions or obsolescence.

If you are making decisions about financing, estate planning, tax appeals, or investment strategy, this distinction matters.

We provide independent valuation and consulting services across Vancouver Island and the Upper Sunshine Coast.

check out our blog post for more information:

If you own real estate, you’ve probably heard the word “depreciation” used in two completely different contexts: • your accountant talks about depreciation for tax purposes, often interchanges with the term “amortization”. • your appraiser talks about depreciation when estimating the m...

02/16/2026

Happy Family Day, British Columbia!

While today is a day to slow down and spend time with the people who matter most, it is also a reminder of why real estate matters.

For many families, property represents:

• Security
• Stability
• A place to gather
• A long-term investment in the future

Whether it is a first home in Courtenay, a multi-family property in Campbell River, or a strata community in Comox, real estate plays a central role in building financial confidence.

We are proud to support families, property managers, investors, and business owners across Vancouver Island through professional appraisal and consulting services.

From our team to yours, have a safe and enjoyable Family Day.

02/14/2026

What Do Buyers Actually Fall in Love With?

Valentine’s Day feels like the right time to talk about love in real estate!

Every week across Vancouver Island, we walk through properties where buyers are clearly captivated.

An oceanfront view in Comox.
A quiet acreage in Black Creek.
A character home near downtown Courtenay.
A new build in Crown Isle with flawless finishes.

Real estate is emotional. It should be. A home is not just an asset. It is where families build their lives.

But here is what often gets overlooked.

Buyers fall in love with emotion.
The market responds to fundamentals.

As professional appraisers serving the Comox Valley and communities across Vancouver Island, our role is not to evaluate how a property feels. It is to determine how it competes in the current market.

What actually drives value?

• Location and long-term neighbourhood desirability
• Current supply and demand in that specific segment
• Condition and effective age of improvements
• Layout, functionality, and adaptability
• Income potential, where relevant
• Verified comparable sales evidence

Emotion may start the process. Evidence supports it.

In stable or price-sensitive markets, the difference matters even more. When inventory increases and buyers become more selective, emotional premiums tend to compress. The properties that hold value best are those supported by strong fundamentals.

A well-supported appraisal does not take away the excitement of a purchase. It protects it.

Confidence in a transaction comes from knowing that the price reflects real market evidence, not just the moment.

If you are purchasing, refinancing, settling an estate, or simply want an objective understanding of your property’s value in today’s Vancouver Island market, informed analysis provides clarity and peace of mind.

Happy Valentine’s Day from all of us at Jackson & Associates Ltd.

02/11/2026

It was great to see so many of our favourite clients and colleagues in person yesterday morning at the Comox Valley Chamber of Commerce 2026 Economic Forecast Breakfast. Thanks to Tracey Clarke and the Comox Valley Chamber of Commerce team for putting on a strong program.

It also lined up with an interesting contrast.

Yesterday’s national headline read, “Canada’s Rents Decline for 16th Consecutive Month.”

That may be true in many major Canadian cities, where increased supply and affordability pressures are cooling large urban markets. But local data tells a different story here in the Comox Valley.

Using CMHC data for Courtenay, we reviewed 2025 average rents and vacancy rates by unit type. Even with record high rents, three things stand out.

• Vacancy remains near historic lows
• 1 and 2 bedroom units remain especially tight
• There is no clear evidence of a local rental correction

In plain terms, Courtenay still looks structurally undersupplied, not cyclical. That is why our local rental market does not always follow national trends.

If you want the full breakdown and the chart, here is our blog post:

On February 9, 2026 we read a national headline that suggested that rents across Canada are declining. According to the Rentals.ca "National Rent Report", average asking rents have softened year-over-year in many major urban centres, driven by increased apartment supply, slowing population growth, a...

02/03/2026

Vancouver Island Real Estate. 2026 Outlook.

It was Groundhog Day yesterday, and Violet the Vancouver Island Marmot is calling for six more weeks of winter rain (again).

Jokes aside, the bigger story for 2026 is this. Vancouver Island real estate is looking less like a market of sharp swings, and more like a market of stability, selectivity, and fundamentals.

Based on VIREB year end 2025 trends, we are seeing:

- Benchmark pricing stabilizing across many Island markets
- Activity concentrating in core population centres like the Comox Valley
- Buyers staying active, but becoming more price sensitive and deliberate

What matters most in 2026 will be less about “timing the market,” and more about the specifics. Location, condition, and income support will do the heavy lifting.

If you want the full write up, our blog link is in the comments.

We are also looking forward to connecting with clients and colleagues at the Comox Valley Chamber of Commerce Economic Outlook Breakfast on February 10 at 7:00 AM at Crown Isle in Courtenay.

Questions you want answered about your neighbourhood or property type in 2026. Drop them below and we will do our best to address them in future updates.

01/28/2026

Why identical strata buildings often have very different reserve fund needs

We hear this question a lot.
“Our building is the same as the one next door. Why are our reserve contributions higher?”

Even when buildings share the same design, materials, and year built, their financial paths can diverge quickly.

Why?

• Maintenance timing
• Environmental exposure
• Construction quality in practice
• Years of council decisions and priorities

Small choices made over time add up. Early repairs versus deferrals. Different exposure to wind or salt air. Different approaches to inspections and budgeting.

Higher reserve fund contributions are not a sign of poor fiscal management. In fact, the opposite is often the case. Often, they reflect a clearer picture of risk, long-term costs and prudent planning.

The most useful question is not “Why are we different?”
It is “What has our building actually experienced since it was built?”