Downsizing in Surrey

What is a house in Surrey worth today?

The benchmark price of a detached house in the City of Surrey was $1,386,200 in September 2026, according to the Fraser Valley Real Estate Board. A benchmark is the board's price for a typical home in an area. The board's Surrey figure combines four areas: North Surrey, Central Surrey, Cloverdale and South Surrey.

Prices fell over the last year for all three home types. The board's table shows the Surrey detached benchmark down 8.3% from September 2025, the townhouse benchmark down 6.6% and the condo benchmark down 10.0%. That change affects a downsizer twice. The house sells for less than it would have a year ago, and the smaller home costs less too.

The next section takes off the costs of selling and buying.

Prices in each part of Surrey

Surrey covers a large area, and the board publishes a separate benchmark for each part. The detached benchmark ran from $1,252,600 in North Surrey to $1,612,500 in South Surrey and White Rock.

The two right-hand columns are for long-time owners. Over ten years the detached benchmark rose 57.3% in Cloverdale and 10.5% in South Surrey and White Rock. The last column is the board's price index for detached houses, which it sets to 100 in January 2005. An index of 387.2 in North Surrey means a typical house there costs 3.9 times its January 2005 price.

How fast Surrey houses are selling

In September 2026, 166 detached houses sold in the City of Surrey. The board reports days to sell for its whole area only: a detached house took 45 days on average, and 337 of the 3,261 detached houses for sale across that area sold in the month. At that pace, we suggest most Surrey downsizers sell the house before they commit to a purchase, or at least have a firm contract, which is a sale where the buyer has removed every condition. Our post on selling first or buying first explains both orders.

Your own house, and a note for large lots

Your house can sell above or below the benchmark for its area. The size of the lot, the age of the roof and furnace, a suite and the street all change the price. Send us the address through the form at the bottom of this page and we will email you a price range from recent sales of homes like yours. It is free, and you do not have to sell with us.

If your lot is large, a builder may be one of the buyers. The Province of BC now requires cities to allow at least three, four or six homes on a lot zoned for one house or a duplex, depending on the size of the lot and how close it is to frequent bus service, with some exemptions. Our post on selling a house to a builder shows how to check your lot.

What would you keep after you sell and buy in Surrey?

Downsizing is two deals. You sell the house, and you buy the smaller home, and each deal has costs. The example below sells a Surrey house at the benchmark price with no mortgage. It then buys a Surrey townhouse at its benchmark price.

With those example costs, $559,463 is left after the townhouse is paid for. Buy a condo at the Surrey benchmark of $447,600 and the same sale leaves $876,683. The condo costs less, and its property transfer tax is $6,952 compared with $13,172 for the townhouse.

Four lines in the table are examples: the 3% commission, the two legal bills and the moving cost. BC Financial Services Authority, the regulator for real estate, says there is no standard commission and any amount can be negotiated. Ask for quotes, then put your own figures into the downsizing calculator. It also has a field for a mortgage you still owe and for property tax you deferred. Two lines follow fixed rules. The commission carries 5% GST. And the buyer of a home pays BC property transfer tax: 1% of the first $200,000 and 2% of the price from $200,000 to $2,000,000.

Income tax is a separate question. The Canada Revenue Agency says that if the house was your principal residence, meaning the home you live in, for every year you owned it, you do not pay tax on the gain. You still report the sale on your tax return. A suite you rented out or a second property can change the answer, so read tax when you sell your home and ask an accountant before you list. If part of the money left over will go to a son or daughter, our post on helping your children buy covers what their lender will ask for.

Where are the smaller homes in Surrey?

The City of Surrey describes itself as six communities: Cloverdale, Fleetwood, Guildford, Newton, South Surrey and Whalley, which includes City Centre. The City's plans show where it expects apartment buildings and townhouses to be built.

The main plan is the Official Community Plan, which the City calls Surrey 2050. It gives each piece of land a long-term label for what may be built there. The High-Rise label is for apartment buildings "generally over 30 storeys, with the highest buildings located in City Centre". The Low-Rise label is for apartment buildings of three to six storeys, or up to eight storeys in areas close to transit.

Here is what the City's own pages say about the six areas with a centre plan.

• City Centre, in North Surrey. The City says this area is changing from a suburban town centre into a downtown built for walking and transit, and that it has attracted high density housing, which means many homes on a small area of land. The City's City Centre page lists City Hall, the City Centre Library, Surrey Memorial Hospital and the Surrey Central and King George SkyTrain stations here.
• Guildford. Council approved the Guildford Plan on October 30, 2023. It guides growth from the edge of City Centre at 140 Street to the Trans-Canada Highway at 160 Street. The City says Guildford has two large recreation centres and a large shopping centre.
• Fleetwood. The Fleetwood Plan is written to guide growth "as the SkyTrain extends along Fraser Highway to Langley". Council endorsed an updated first stage on October 16, 2023, and the City says Council will consider a further update in 2026. The Fleetwood Community Centre and the Surrey Sport & Leisure Complex are in this community.
• Newton. The City calls Newton the most populous town centre in Surrey. Council adopted the Newton Town Centre Plan on July 13, 2020 to guide a compact town centre built around transit over the next 30 years. The Newton Seniors Centre is here.
• Cloverdale. The City describes Cloverdale Town Centre, at Highway 10 and Highway 15, as a neighbourhood that is easy to walk in, with a variety of housing types and local businesses. It is updating that plan to support the new hospital and BC Cancer Centre.
• Semiahmoo, in South Surrey. Council approved the Semiahmoo Town Centre Plan on January 31, 2022 and updated it on July 27, 2026. The plan covers the area from 16 Avenue north to 24 Avenue. It describes a compact centre for South Surrey, with enough homes and shops to support transit.

Prices differ across the city. The condo benchmark was lowest in North Surrey at $398,900 and highest in South Surrey and White Rock at $544,400 (FVREB, September 2026). The townhouse benchmark was lowest in North Surrey at $680,400 and highest in South Surrey and White Rock at $797,100. The board draws its own area boundaries, so ask us which board area an address is in before you compare it with these prices.

You can see what is for sale now on our pages for Surrey condos, Surrey townhouses and Surrey houses. A rancher, which is a house on one level, is listed with the houses. Our post on condo, townhouse or rancher compares stairs, upkeep and cost for the three.

When a condo or townhouse is part of a strata, which is the owners' group that runs the building or complex, every owner pays a monthly fee. Read strata fees on a fixed income before you compare two homes. A plan describes what the City expects to be built over 30 years or more, so visit a street at different times of day to see how it is now.

How will you reach a hospital, transit and daily needs?

Hospitals

Surrey Memorial Hospital is at 13750 96th Avenue. Fraser Health, the public health authority for this region, calls it the largest of its three regional hospitals and says it has a 24-hour emergency department. Fraser Health also runs Peace Arch Hospital at 15521 Russell Avenue in White Rock. It is a community hospital with emergency, surgery and maternity care, and it is open 24 hours a day.

A second hospital is under construction in Surrey. Fraser Health says the new Surrey hospital and BC Cancer Centre will have a 24-hour emergency department and will add hospital services "in the Cloverdale, Newton and South Surrey area". Check the project page for the opening date before you choose a home because of it.

SkyTrain, buses and HandyDART

TransLink runs public transit in Surrey. Its Expo Line connects Surrey with New Westminster, Burnaby and Downtown Vancouver, and four of its stations are in Surrey: Scott Road, Gateway, Surrey Central and King George.

The Province is building the Surrey Langley SkyTrain extension: 16 kilometres of track from King George Station along Fraser Highway to 203 Street in Langley City. The eight new stations are Green Timbers, 152 Street, Fleetwood, Bakerview-166 Street, Hillcrest-184 Street, Clayton, Willowbrook and Langley City Centre. The project's website, read on October 10, 2026, says it currently expects service to start in late 2029. Treat that as the Province's estimate when you compare two homes.

If a disability keeps you from using regular buses and trains without help, TransLink's HandyDART is a shared ride from your door to the door of the place you are going. You apply to TransLink first. It says trips run seven days a week, with the earliest pickup at 6 a.m. and the last drop-off at 2 a.m., and that you can book up to seven days ahead. The cash fare for a rider aged 65 or older is $2.30.

City programs for people aged 55 and over

Statistics Canada counted 568,322 people in Surrey in the 2021 Census. Of those, 87,180 were aged 65 or older, which is 15.3% of the population.

The City of Surrey sells a Seniors Services Membership for people aged 55 and over. It costs $31 a year and gives access to drop-in activities, events and clubs that are free or low cost. The City lists lounges and cafés with food service at four places: Chuck Bailey Recreation Centre, Cloverdale Recreation Centre, Guildford Recreation Centre and Newton Seniors Centre. If one of them is part of your week now, measure the trip to it from any home you look at.

Property tax in Surrey: deferment and the seniors grant

The City of Surrey mails the yearly property tax notice at the end of May, and the tax is due on July 2. When July 2 is a weekend or a holiday, you can pay on the next business day. The City adds a 5% penalty to tax unpaid after July 2 and a further 5% after September 2.

The home owner grant for owners aged 65 and over

The home owner grant is a provincial program that lowers the property tax on the home you live in. The City of Surrey no longer accepts grant applications. You apply to the Province each year, and Surrey asks you to do it by July 2. The Province says the total grant for an owner aged 65 or older is $845, effective January 1, 2027. The regular grant is $570. For 2026 the full grant is available on a home with an assessed value of $2,075,000 or less. Assessed value is the value BC Assessment gives your home each year. The Province has extra rules for the year you buy or sell.

Deferring the tax

Deferment is a loan from the Province. If you are 55 or older and meet its other conditions, the regular property tax deferment program lets the Province pay your property tax for you. It then registers a lien, which is a legal claim for the debt, on the title of your home. For tax deferred for 2026 and later, interest compounds monthly at 2% above the prime rate. Compounding means interest is charged on earlier interest as well as on the tax. The rate is 6.45% from October 1 to December 31, 2026.

Surrey sends every deferment application to the Province's website and takes no paper forms. The City also says some lines on your tax notice cannot be deferred: water, sewer, waste collection and secondary suite fees. Pay those by the due date.

When you sell, the Province says you must repay the loan in full. The City says that payment goes to the Minister of Finance and that the Province's deferment office gives you the payout amount. A repaid account is closed, so you apply again if you want to defer tax on the next home. If you pay your Surrey tax through the City's pre-authorized payment plan, the City says the plan cannot move to a new property, so you sign up again for the new address. Our post on property tax deferment and the seniors grant has the full rules.

Should you stay in Surrey or move to a cheaper city?

A move inside Surrey keeps you in the same city as the people and services you know. A move to another city can leave more money. The table shows the benchmark for each home type in the six cities we cover.

Langley borders Surrey, and a smaller home there costs more. Its townhouse benchmark of $802,600 is $44,000 above Surrey's, and its condo benchmark of $525,900 is $78,300 above Surrey's (FVREB, September 2026).

Abbotsford costs less. Its townhouse benchmark of $592,600 is $166,000 below Surrey's, and its condo benchmark of $370,200 is $77,400 below. Take the Surrey house from the example above and buy an Abbotsford townhouse at its benchmark, with the same example costs, and $728,783 is left. That is $169,320 more than with a Surrey townhouse.

Price is one part of the choice. Before you move to another city, write down how far you would be from your children and grandchildren, your family doctor, your friends, and the places you go each week. Count the drive in winter and after dark. Ask whether you will still want to drive in ten years, and what transit the new address has. Our post on moving east to free up money compares the cities in more detail, and each neighbour has its own guide.

• Downsizing in LangleyHouse $1,471,100, townhouse $802,600, condo $525,900. FVREB, September 2026.
• Downsizing in AbbotsfordHouse $1,087,000, townhouse $592,600, condo $370,200. FVREB, September 2026.

This page is one part of our Fraser Valley downsizing guide, which covers the whole move from the first price check to moving day.

Two rules to know before you buy

Buildings for people aged 55 and over

BC law lets a strata set an age limit in one form only. The Province says strata corporations can only have age-restriction bylaws that restrict residents to age 55 and older. The Strata Property Act lets a bylaw require one or more residents of a home to be at least 55, so each building's bylaw decides whether one resident or every resident must meet the age. A younger spouse or partner, children and a live-in caregiver are exempt. Read the bylaw of any Surrey building you like, and our post on 55 and over buildings in BC.

A newly built home has a different tax result

BC's newly built home exemption removes the property transfer tax on a new home with a fair market value of $1,100,000 or less. You must be a Canadian citizen or permanent resident, move in within 92 days and live there for the rest of the first year. The Province's page does not ask for first-time buyer status, so a downsizer can qualify. The transfer tax on a home priced at the Surrey townhouse benchmark is $13,172. A new home from a builder also carries GST, and the Canada Revenue Agency says the sale of a previously occupied home is generally exempt. Compare the full cost of each before you choose.

Steps for a Surrey owner

1. Get a price range for your own house. Use the form on this page, and tell us which part of Surrey you are in.
2. Run the calculator with that price and the benchmark for the home type you want.
3. Choose the area. Visit City Centre, Guildford, Fleetwood, Newton, Cloverdale and Semiahmoo if you are not sure, and measure each trip to your hospital, your family and your weekly activities.
4. Ask an accountant about tax if you rented out a suite, own a second property or have a large lot.
5. Fix what a buyer's inspector will find, and leave the rest. Our post on getting a 30-year-old house ready to sell lists what to check.
6. List the house. If you deferred property tax, ask the Province's deferment office for the payout amount.
7. Buy the smaller home once the sale is firm, and set the two completion dates close together. Completion is the day ownership transfers and the price is paid.
8. After the move, set up your Surrey tax payments for the new address, check the home owner grant rules for the year you buy, and report the sale on your next tax return.

The month-by-month version is in the downsizing checklist.

Common questions about downsizing in Surrey

How much is a house worth in Surrey in 2026?

The benchmark price of a detached house in the City of Surrey was $1,386,200 in September 2026, according to the Fraser Valley Real Estate Board. By area, the detached benchmark ran from $1,252,600 in North Surrey to $1,612,500 in South Surrey and White Rock. A benchmark is the price of a typical home, so your own house can sell above or below it.

Can I buy a condo or a townhouse in Surrey with the money from my house?

Yes, at benchmark prices. Our example sells a Surrey house at the benchmark of $1,386,200 with no mortgage and pays a 3% commission, GST, legal bills, property transfer tax and moving costs. Buying a townhouse at the benchmark of $758,600 leaves $559,463. Buying a condo at $447,600 leaves $876,683. Prices are from the Fraser Valley Real Estate Board, September 2026. The commission, legal and moving amounts are examples, and yours will differ.

Which part of Surrey has the lowest condo prices?

North Surrey had the lowest condo benchmark of the four Surrey areas the Fraser Valley Real Estate Board reports: $398,900 in September 2026. The highest was South Surrey and White Rock at $544,400. The board reports South Surrey and White Rock as one area. A benchmark describes a typical condo, and prices inside each area change with the building, its age and the size of the home.

Which SkyTrain stations are in Surrey?

Four Expo Line stations are in Surrey: Scott Road, Gateway, Surrey Central and King George, according to TransLink. The Province is building a 16 kilometre extension from King George Station along Fraser Highway to Langley City, with eight more stations. The project's website, read on October 10, 2026, says it currently expects service to start in late 2029.

Is there a hospital in Surrey?

Yes. Surrey Memorial Hospital is at 13750 96th Avenue. Fraser Health calls it the largest of its three regional hospitals and says it has a 24-hour emergency department. Fraser Health also runs Peace Arch Hospital in White Rock, a community hospital with emergency care. A second Surrey hospital, with a cancer centre, is under construction.

When are property taxes due in Surrey?

Property tax in Surrey is due on July 2, or on the next business day when July 2 is a weekend or a holiday. The City mails the notice at the end of May. It charges a 5% penalty on tax unpaid after July 2 and a further 5% after September 2. Surrey asks you to claim your home owner grant with the Province by the same date.

Can I defer my property tax in Surrey?

Yes, if you qualify for the Province's program. Owners aged 55 or older can apply to the regular property tax deferment program. Surrey takes no paper forms, so you apply on the Province's website. Water, sewer, waste collection and secondary suite fees cannot be deferred. For tax deferred for 2026 and later, interest compounds monthly at 2% above the prime rate, and you repay the full loan when you sell.

Does Surrey have door-to-door transit for people who cannot use the bus?

Yes. TransLink's HandyDART is a shared ride from door to door for people who cannot use regular transit without help because of a disability. You apply to TransLink first. Trips run seven days a week, with the earliest pickup at 6 a.m. and the last drop-off at 2 a.m. The cash fare for a rider aged 65 or older is $2.30.

Is it cheaper to downsize to Langley or Abbotsford than to stay in Surrey?

Abbotsford costs less than Surrey, and Langley costs more. In September 2026 the townhouse benchmark was $758,600 in Surrey, $802,600 in Langley and $592,600 in Abbotsford, according to the Fraser Valley Real Estate Board. The condo benchmark was $447,600, $525,900 and $370,200 in the same order. A move also changes how far you live from your family, your doctor and your friends.

What does the City of Surrey offer for people aged 55 and over?

The City of Surrey sells a Seniors Services Membership for people aged 55 and over. It costs $31 a year and gives access to drop-in activities, events and clubs that are free or low cost. The City lists lounges and cafés with food service at Chuck Bailey Recreation Centre, Cloverdale Recreation Centre, Guildford Recreation Centre and Newton Seniors Centre.

How long does it take to sell a house in Surrey?

The Fraser Valley Real Estate Board reports days to sell for its whole area only. In September 2026 the average detached house took 45 days to sell, a townhouse 38 days and a condo 46 days. In the City of Surrey, 166 detached houses sold in the month. Add the weeks before listing for repairs and photos, and the weeks between an accepted offer and the day the sale completes.

Can a Surrey condo building limit residents to age 55 and over?

Yes. Since November 24, 2022, a BC strata can restrict residents by age only at 55 and over. The Strata Property Act lets a bylaw require one or more residents of a home to be at least 55, so some buildings ask for one resident of that age and some ask for every resident. A younger spouse or partner, children and a live-in caregiver are exempt. Read the building's bylaw before you make an offer.

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