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Surrey’s fast-growing housing market now includes 79,293 strata properties, of which 77,806 are conventional strata lots and 1,487 are bare-land strata lots. These figures mean that strata holdings already account for just over 43 percent of all 179,130 assessed parcels in the city, underscoring how common a Depreciation Report has become for owners and managers across Surrey. Because of this scale, any Depreciation Report in Surrey must address a wide range of building ages, construction methods and reserve-fund realities.
Residential use dominates the local strata landscape. Based on BC Assessment’s 2024 roll for the “Surrey–White Rock” assessment area, about 90.7 percent of strata-classified assessed value is residential, 8.9 percent is commercial (Business & Other, Class 6) and only 0.4 percent is true industrial (Classes 4 & 5). That split explains why most Depreciation Report requests in Surrey still come from condo and town-house corporations, while a much smaller share comes from mixed-use or tilt-up strata projects in business parks.
Within the residential segment, towers and mid-rise sites concentrate in City Centre, Guildford and along King George Boulevard, while low-rise wood-frame and townhouse strata corporations spread out through Cloverdale, Newton, Fleetwood and South Surrey. Industrial and flex-commercial strata complexes cluster in Campbell Heights, Port Kells and the South Westminster area near the Fraser River, reflecting zoning that favours small-bay ownership units in those districts. As of mid-2025 Surrey has no reliable public inventory that separates towers from low-rise strata by count, so Depreciation Report planners rely on building-permit data when height-specific analysis is needed.
Strata development in Surrey began in earnest after the late-1970s adoption of BC’s first Strata Titles Act, and plan registration accelerated sharply through the 1990s and 2000s as the LMS, BCS and later EPS strata-plan prefixes appeared. Looking forward to 2035, municipal plans tied to the Surrey–Langley SkyTrain extension (Fleetwood, Clayton Corridor and City Centre updates) point to thousands of new strata homes and mixed-use podiums within 800 metres of future stations, ensuring a steady pipeline of Depreciation Report work. Across Surrey, common strata-plan abbreviations include NWS (New Westminster Strata), LMS (Lower Mainland Strata), BCS (British Columbia Strata) and EPS (Electronic Plan Strata); each prefix signals the era and land-title district in which the corporation was created.