Some B.C. homeowners may be surprised when they open their property assessment this year.

Estimated property values have increased by as much as 35 per cent in some parts of Metro Vancouver and the Fraser Valley.

Condos and townhouses saw the largest spike in value, with 2018 numbers up between five and 35 per cent – or more—in urban areas. Rural stratified property values were up between five to 25 per cent, BC Assessment estimated.

In Surrey, Delta and the Fraser Valley, increases for stratified properties were in the range of 10 to 40 per cent.

Meanwhile, single detached homes in the Lower Mainland saw changes between a decrease of five and an increase of 25 per cent.

In Richmond, single-family homes saw no change, but townhouses were up 15 per cent and condos up 35.

"It seems there's definitely more demand for the strata properties. Maybe it's more affordable for people," BC Assessment's Tina Ireland said.

"Definitely the shift in values are to the strata market."

Realtor Aaron Jasper said the increases show demand for condos and townhouses clearly outstripping demand for detached properties, a market where many are already priced out.

It's also a matter of how much housing is available, the Royal Lepage Sussex Klein Group relator said.

"That really is the question. And the discussion we should be having is, 'How are we going to have the supply of properties to meet the demand?' And as long as we don't meet that, we're going to continue to see these trends," Jasper said.

The latest assessments are based on market values last summer, officials said. Anyone who disagrees with their assessment has until Jan. 31 to appeal.

2018 is the second year in a row that values have spiked. Owners of single-family homes saw the value of their properties increase by as much as 50 per cent last January.

Vancouver, Squamish, Burnaby, Tri-Cities, Richmond, Surrey and the North Shore were among the areas with the highest increases last year, and the province sent out notices ahead of time so owners wouldn't be caught off-guard.

With a report from CTV Vancouver's Maria Weisgarber