$3.4 billion worth of homes flipped in Vancouver during pandemic

The pandemic is bringing misery to millions of Canadians as Covid-19 leaves tens of thousands dead, economic turmoil, and political upheaval in its wake.

But for real estate flippers, this global health crisis has proven to be a boon. Real estate speculators have flipped bought and relisted a property within 12 months a staggering 2,639 homes in Metro Vancouver worth $3.4 billion in less than two years.

One in 12 (8%) single family home listings are now flips. We have not witnessed such high levels of speculative activity since the 2015 real estate frenzy.

And the flippers are making it out like bandits.

In one example, the numbered company 1225632 B.C LTD bought 10091 Park Drive, Surrey in December 2020 for $762,800 and flipped it in April 2021 for $1,300,000. The flipper made $537,200 or 70% before expenses in little over three months.

In another example, a group of speculators bought 2033 E 34th Avenue, Vancouver in July 2021 for $1,360,000 and flipped it in December 2021 for $1,901,000. The flippers made $541,000 or 40% before expenses in just five months.

Another group of speculators bought 95 E Eighth Avenue, New Westminster in June 2021 for $1,099,000 and flipped it in November 2021 for $1,600,000. The flipper made $501,000 or 46% before expenses in just five months.

The speculative market has allowed flippers to rake in the dough. But it’s been a disaster for renters and those trying to buy a home to live in, as home prices keep reaching new heights and show no signs of retreating.

There’s a strong correlation between the percentage of quick flip listings and price changes with a three month lag (correlation coefficient r=0.7 with a three month lag). Simply put, whenever the level of speculation goes up, prices go up three months later.

While correlation doesn’t equal causation, there does exist a plausible causality change to explain the link between increased speculator activity in the market and home prices: increased speculative buying increases demand, and increased demand increases prices.

The Liberal Party promised to introduce an anti-flipping tax during the last federal election. Four months have passed since the Liberals were returned to power, but Prime Minister Justin Trudeau has not made any moves towards clamping down on real estate speculation.

Many in Vancouver are not surprised by PM Trudeau’s lackadaisical approach to tackling real estate speculation. After all, Vancouver Granville Liberal MP Taleeb Noormohamed, is among those who’ve profited off the flipping pandemic.

Here’s a list of properties that are currently on the market that were bought within the last 12 months.

Detached

Address City Date Bought Price Bought Date Relisted Price Relisted Months held Mark up %
6559 CLAYTONHILL PLACE Surrey 2020-09 1,695,240 2020-11 1,830,000 2 8
7793 118A STREET Delta 2020-08 940,000 2021-03 1,149,800 7 22
1381 E 20TH AVENUE Vancouver 2020-09 1,553,800 2021-04 2,598,000 7 67
659 ANDOVER PLACE West Vancouver 2021-02 3,028,000 2021-06 4,788,000 4 58
10951 SOUTHPORT ROAD Richmond 2021-03 1,490,000 2021-06 2,039,760 4 37
5365 EARLES STREET Vancouver 2021-02 1,735,000 2021-07 2,159,900 5 24
4351 PROSPECT ROAD North Vancouver 2021-03 2,025,000 2021-08 3,388,000 4 67
2297 154A STREET Surrey 2021-05 1,375,000 2021-08 1,888,890 4 37
645 KING GEORGES WAY West Vancouver 2020-12 3,350,000 2021-08 4,988,000 9 49
6331 UDY ROAD Richmond 2020-09 3,450,000 2021-08 4,080,000 11 18
1733 156 STREET Surrey 2020-11 950,000 2021-09 1,888,890 9 99
3405 W 24TH AVENUE Vancouver 2021-05 2,355,000 2021-09 2,690,000 4 14
7637 SUSSEX AVENUE Burnaby 2021-01 1,957,000 2021-09 3,488,000 8 78
14733 108A AVENUE Surrey 2021-01 985,000 2021-09 1,299,000 8 32
55 E 49TH AVENUE Vancouver 2021-03 2,300,000 2021-09 3,500,000 6 52
3820 NAPIER STREET Burnaby 2021-04 1,000,000 2021-09 1,299,900 5 30
3595 SUNSET LANE West Vancouver 2020-11 3,875,000 2021-09 3,999,000 11 3
14225 67 AVENUE Surrey 2020-12 1,175,000 2021-10 1,599,000 10 36
6544 IMPERIAL STREET Burnaby 2021-01 1,625,000 2021-10 1,950,000 9 20
15836 RUSSELL AVENUE White Rock 2021-04 1,250,000 2021-10 1,749,750 6 40
972 KENT STREET White Rock 2020-11 1,070,000 2021-10 1,470,000 11 37
13518 64A AVENUE Surrey 2021-02 1,220,000 2021-10 1,600,000 9 31
3370 CRAIGEND ROAD West Vancouver 2021-02 6,375,000 2021-11 9,500,000 9 49
3133 E 19TH AVENUE Vancouver 2020-12 2,305,000 2021-11 3,198,000 11 39
3737 W 20TH AVENUE Vancouver 2021-07 2,460,000 2021-11 2,850,000 4 16
2883 NANAIMO STREET Vancouver 2021-01 1,599,000 2021-11 2,400,000 10 50
6324 191A STREET Surrey 2021-06 1,155,000 2021-11 1,745,000 5 51
10228 156 STREET Surrey 2021-03 995,000 2021-11 1,399,000 8 41
2378 MARINE DRIVE West Vancouver 2020-11 2,400,000 2021-11 3,380,000 12 41
4331 WESTMINSTER HIGHWAY Richmond 2021-04 2,468,000 2021-11 2,980,000 8 21
8065 PASCO ROAD West Vancouver 2021-07 3,300,000 2021-11 3,999,000 4 21
23150 FRASER HIGHWAY Langley 2020-12 1,315,000 2021-12 2,150,000 12 63
1720 SASAMAT STREET Vancouver 2021-08 8,600,000 2021-12 9,288,000 4 8
14385 68B AVENUE Surrey 2021-04 1,170,000 2021-12 1,849,000 8 58
7758 125 STREET Surrey 2021-10 965,500 2021-12 1,249,000 2 29
14492 60 AVENUE Surrey 2021-04 1,220,000 2021-12 1,298,000 9 6
12896 108 AVENUE Surrey 2021-05 1,150,000 2021-12 1,775,000 7 54
19675 70A AVENUE Langley 2021-03 1,810,000 2021-12 2,299,900 10 27
8296 153B STREET Surrey 2021-08 1,320,000 2022-01 2,050,000 4 55
6120 151 STREET Surrey 2021-04 1,250,000 2022-01 1,699,000 8 36
8515 ROYAL OAK AVENUE Burnaby 2021-05 2,300,000 2022-01 2,988,000 7 30
4261 W 13TH AVENUE Vancouver 2021-05 6,800,000 2022-01 7,388,000 8 9
7621 BERKELEY PLACE Surrey 2021-05 1,120,000 2022-01 1,915,000 7 71
3126 271 STREET Langley 2021-10 999,999 2022-01 1,288,000 3 29
16071 8 AVENUE Surrey 2021-03 1,335,000 2022-01 2,492,000 10 87
17310 58 AVENUE Surrey 2021-09 1,325,000 2022-01 1,700,000 3 28
7097 BELCARRA DRIVE Burnaby 2021-02 1,550,000 2022-01 2,799,000 11 81
1522 BRAID ROAD Delta 2021-02 1,285,000 2022-01 1,698,800 11 32
6116 CHESTER STREET Vancouver 2021-10 1,570,000 2022-01 1,798,800 3 15
13831 BRENTWOOD CRESCENT Surrey 2021-06 1,750,000 2022-01 2,399,000 7 37
545 W 63RD AVENUE Vancouver 2021-02 2,600,000 2022-01 3,288,000 11 26
2776 MCGILL STREET Vancouver 2021-06 1,300,000 2022-01 1,888,800 7 45
14072 18A AVENUE Surrey 2021-09 1,350,000 2022-01 2,599,000 4 93
10710 132 STREET Surrey 2021-08 1,800,000 2022-01 2,550,000 5 42
1750 DEMPSEY ROAD North Vancouver 2021-03 2,255,000 2022-01 2,698,000 10 20
7368 BARNET ROAD Burnaby 2021-05 2,280,000 2022-01 2,699,000 8 18
3657 E PENDER STREET Vancouver 2021-04 1,275,000 2022-01 1,988,800 9 56
6926 BLENHEIM STREET Vancouver 2021-02 6,300,000 2022-01 7,568,000 11 20
1989 AMBLE GREENE DRIVE Surrey 2021-03 1,575,000 2022-01 1,850,000 10 17
2463 OTTAWA AVENUE West Vancouver 2021-04 2,900,000 2022-01 3,280,000 9 13
1021 MARINE DRIVE West Vancouver 2021-06 2,060,000 2022-01 2,790,000 7 35
9496 160A STREET Surrey 2021-02 1,080,000 2022-01 1,600,000 11 48
15474 90 AVENUE Surrey 2021-03 1,025,000 2022-01 1,290,000 10 26
11273 89A AVENUE Delta 2021-01 1,270,100 2022-01 1,699,000 12 34
13906 68 AVENUE Surrey 2021-05 1,620,000 2022-01 2,099,000 8 30
5309 MONTIVERDI PLACE West Vancouver 2021-04 3,150,000 2022-01 3,399,000 10 8
10702 132 STREET Surrey 2021-08 1,800,000 2022-01 2,550,000 5 42
3460 YUKON STREET Vancouver 2021-02 3,000,000 2022-01 3,680,000 11 23
2767 264 STREET Langley 2021-03 1,350,000 2022-01 1,999,000 10 48
19339 72A AVENUE Surrey 2021-02 1,315,000 2022-01 1,499,000 12 14
673 MORRISON AVENUE Coquitlam 2021-08 1,939,900 2022-01 2,990,000 5 54
9738 131 STREET Surrey 2021-08 1,451,000 2022-01 1,700,000 5 17
13771 MALABAR AVENUE White Rock 2021-10 1,625,000 2022-01 1,888,800 3 16
6690 NANAIMO STREET Vancouver 2021-07 1,225,000 2022-01 1,888,890 6 54
14659 75A AVENUE Surrey 2021-08 1,240,890 2022-01 1,499,890 5 21
4725 THE GLEN West Vancouver 2021-05 3,650,000 2022-01 4,698,000 9 29
20011 GRADE CRESCENT Langley 2021-08 1,235,000 2022-01 1,635,000 5 32
10871 139A STREET Surrey 2021-09 1,185,000 2022-01 1,699,000 4 43
21150 CUTLER PLACE Maple Ridge 2021-05 1,350,000 2022-01 1,598,890 9 18
17314 62A AVENUE Surrey 2021-10 1,560,000 2022-01 1,599,230 3 3
19771 SUNSET LANE Pitt Meadows 2021-11 1,186,000 2022-01 1,288,000 3 9
2465 E 22ND AVENUE Vancouver 2021-10 2,280,000 2022-01 2,680,000 4 18
21925 RIVER ROAD Maple Ridge 2021-07 998,000 2022-01 1,399,000 6 40
4838 INVERNESS STREET Vancouver 2021-05 1,458,000 2022-01 1,599,000 9 10
11294 240 STREET Maple Ridge 2021-08 1,265,000 2022-01 1,399,990 5 11
466 W 27TH AVENUE Vancouver 2021-06 3,600,000 2022-01 4,800,000 7 33
1852 KING GEORGE BOULEVARD Surrey 2021-02 995,000 2022-01 1,299,000 11 31
3343 CHURCH STREET Vancouver 2021-09 1,275,000 2022-01 1,888,000 5 48
6059 133B STREET Surrey 2021-12 1,690,000 2022-01 1,975,000 2 17
2878 266B STREET Langley 2021-03 1,145,000 2022-01 1,800,000 10 57
534 BALLANTREE ROAD West Vancouver 2021-05 2,350,000 2022-01 2,998,000 8 28
12411 69 AVENUE Surrey 2021-11 1,750,000 2022-01 2,100,000 3 20
10051 SPRINGHILL CRESCENT Richmond 2021-02 2,450,000 2022-01 2,999,800 11 22
12110 96A AVENUE Surrey 2021-03 1,235,000 2022-01 1,499,230 10 21
11450 95 AVENUE Delta 2021-02 960,000 2022-01 1,500,000 11 56
7293 BLAKE DRIVE Delta 2021-10 1,180,000 2022-01 1,599,000 4 36
15106 ROBIN CRESCENT Surrey 2021-02 1,315,000 2022-01 1,799,890 12 37
13371 61A AVENUE Surrey 2021-02 1,890,000 2022-01 2,498,800 11 32
1511 PHOENIX STREET White Rock 2021-05 1,738,000 2022-01 2,388,000 9 37
1619 138A STREET Surrey 2021-02 1,165,000 2022-01 1,599,000 11 37
816 WESTWOOD STREET Coquitlam 2021-11 1,099,000 2022-01 1,598,000 2 45
7559 118 STREET Delta 2021-05 1,100,000 2022-01 1,700,000 8 55
2959 SURF CRESCENT Coquitlam 2021-04 1,399,900 2022-01 1,898,000 10 36
13960 80A AVENUE Surrey 2021-07 880,777 2022-01 1,200,000 6 36
16191 16A AVENUE Surrey 2021-04 1,200,000 2022-01 1,749,900 10 46
8633 12TH AVENUE Burnaby 2021-05 1,475,000 2022-01 1,588,890 8 8
2718 BAYVIEW STREET Surrey 2021-12 1,770,000 2022-01 1,789,000 2 1
3192 W 8TH AVENUE Vancouver 2021-04 2,600,000 2022-01 3,300,000 10 27
6256 138 STREET Surrey 2021-03 1,513,000 2022-01 2,000,000 10 32
12743 25 AVENUE Surrey 2021-02 1,284,000 2022-01 1,698,000 12 32
21018 COOK AVENUE Maple Ridge 2021-02 1,080,000 2022-01 1,298,800 12 20
14173 74 AVENUE Surrey 2021-10 1,270,000 2022-01 1,599,000 4 26
249 WARRICK STREET Coquitlam 2021-08 1,050,000 2022-01 1,399,800 6 33
21175 122 AVENUE Maple Ridge 2021-07 1,070,000 2022-01 1,499,900 7 40
17351 WESTMINSTER HIGHWAY Richmond 2021-10 1,056,790 2022-01 1,899,900 4 80
6120 ALTA COURT Richmond 2021-03 1,600,000 2022-01 1,699,000 11 6
10251 BRIDGEPORT ROAD Richmond 2021-10 1,300,000 2022-01 1,598,000 3 23
1622 E 11TH AVENUE Vancouver 2021-06 1,480,000 2022-01 1,600,000 8 8
1008 TUXEDO DRIVE Port Moody 2021-07 1,420,000 2022-01 1,899,900 7 34
3671 FRANCIS ROAD Richmond 2021-02 1,550,000 2022-01 2,088,890 12 35
2801 GORDON AVENUE Surrey 2021-07 1,310,000 2022-01 1,800,000 6 37
16777 105 AVENUE Surrey 2021-03 1,560,000 2022-01 1,880,000 10 21
15431 93 AVENUE Surrey 2021-11 1,435,010 2022-01 1,699,000 2 18

Condo

Address City Date Bought Price Bought Date Relisted Price Relisted Months held Mark up %
103 7511 MINORU BOULEVARD Richmond 2020-09 465,000 2021-05 480,000 8 3
104 12075 228 STREET Maple Ridge 2020-07 386,000 2021-06 479,999 11 24
1608 8189 CAMBIE STREET Vancouver 2021-03 898,000 2021-07 928,800 4 3
128 11806 88 AVENUE Delta 2021-04 227,500 2021-07 238,880 3 5
307 1439 GEORGE STREET White Rock 2021-01 1,099,900 2021-08 1,346,000 7 22
3306 13618 100 AVENUE Surrey 2021-03 420,000 2021-09 525,000 6 25
302 1948 COQUITLAM AVENUE Port Coquitlam 2021-02 258,000 2021-09 390,000 8 51
214 8031 RYAN ROAD Richmond 2021-05 170,000 2021-09 229,888 4 35
215 7240 LINDSAY ROAD Richmond 2021-05 230,000 2021-10 316,888 5 38
1602 8555 GRANVILLE STREET Vancouver 2021-07 1,050,000 2021-10 1,128,000 4 7
403 1050 CHILCO STREET Vancouver 2021-02 422,500 2021-11 429,000 9 2
4305 1011 W CORDOVA STREET Vancouver 2021-01 3,325,000 2021-11 4,388,000 10 32
508 150 24TH STREET West Vancouver 2021-06 735,000 2021-11 799,900 5 9
1101 2965 FIR STREET Vancouver 2021-05 900,000 2021-11 1,099,000 6 22
106 13680 84 AVENUE Surrey 2021-05 465,000 2021-11 589,999 6 27
407 20175 53 AVENUE Langley 2020-12 419,900 2021-12 499,900 12 19
1005 3281 E KENT AVENUE NORTH Vancouver 2021-06 825,000 2021-12 948,000 6 15
215 2320 W 40TH AVENUE Vancouver 2021-03 600,000 2021-12 899,900 10 50
608 8280 LANSDOWNE ROAD Richmond 2021-02 542,800 2021-12 649,000 10 20
201 8181 CHESTER STREET Vancouver 2021-08 699,900 2021-12 899,900 4 29
605 1850 COMOX STREET Vancouver 2021-06 378,000 2021-12 406,200 6 7
506 930 CAMBIE STREET Vancouver 2021-03 799,500 2022-01 1,075,000 10 34
103 12096 222 STREET Maple Ridge 2021-06 197,000 2022-01 298,000 6 51
3904 667 HOWE STREET Vancouver 2021-02 3,995,000 2022-01 5,198,000 11 30
206 225 24TH STREET West Vancouver 2021-08 1,845,000 2022-01 2,950,000 5 60
208 1061 MARINE DRIVE North Vancouver 2021-02 540,000 2022-01 669,000 11 24
302 8538 203A STREET Langley 2021-07 546,000 2022-01 745,000 6 36
1101 1288 ALBERNI STREET Vancouver 2021-07 753,500 2022-01 848,000 6 13
204 8770 LAUREL STREET Vancouver 2021-09 510,000 2022-01 535,000 4 5
703 58 KEEFER PLACE Vancouver 2021-05 538,000 2022-01 638,000 8 19
411 10680 151A STREET Surrey 2021-04 345,000 2022-01 499,000 9 45
217 9213 ODLIN ROAD Richmond 2021-09 799,900 2022-01 860,000 4 8
605 5615 HAMPTON PLACE Vancouver 2021-08 966,000 2022-01 1,149,000 5 19
1388 2088 BARCLAY STREET Vancouver 2021-09 4,380,000 2022-01 4,595,000 4 5
104 12020 207A STREET Maple Ridge 2021-02 405,000 2022-01 529,000 12 31
407 5051 IMPERIAL STREET Burnaby 2021-02 770,000 2022-01 899,900 11 17
C413 8150 207 STREET Langley 2021-02 469,900 2022-01 659,000 11 40
2212 10777 UNIVERSITY DRIVE Surrey 2021-03 350,000 2022-01 399,900 11 14
320 19945 BRYDON CRESCENT Langley 2021-11 385,000 2022-01 515,000 2 34
305 18755 68 AVENUE Surrey 2021-04 460,000 2022-01 598,800 10 30
252 15850 26 AVENUE Surrey 2021-07 549,801 2022-01 699,900 6 27
912 13325 102A AVENUE Surrey 2021-06 382,000 2022-01 400,000 8 5
105 1516 CHARLES STREET Vancouver 2021-10 460,000 2022-01 599,000 3 30
312 11703 FRASER STREET Maple Ridge 2021-02 499,900 2022-01 619,000 12 24
104 11703 FRASER STREET Maple Ridge 2021-01 399,900 2022-01 499,000 12 25
203 22226 BROWN AVENUE Maple Ridge 2021-03 399,900 2022-01 475,000 10 19
1101 828 AGNES STREET New Westminster 2021-02 550,000 2022-01 624,800 12 14
A108 6950 NICHOLSON ROAD Delta 2021-11 515,500 2022-01 699,000 3 36
215 13628 81A AVENUE Surrey 2021-03 485,000 2022-01 649,000 10 34
203 22722 LOUGHEED HIGHWAY Maple Ridge 2021-05 314,000 2022-01 379,900 9 21
204 1250 QUAYSIDE DRIVE New Westminster 2021-07 735,000 2022-01 799,900 7 9
312 2855 152 STREET Surrey 2021-09 525,000 2022-01 549,999 4 5
306 9262 UNIVERSITY CRESCENT Burnaby 2021-05 489,000 2022-01 499,000 8 2
107 707 HAMILTON STREET New Westminster 2021-11 320,000 2022-01 419,900 3 31
404 11667 HANEY BYPASS Maple Ridge 2021-08 458,000 2022-01 499,000 6 9
107 7175 134 STREET Surrey 2021-02 239,000 2022-01 330,000 12 38
203 1389 WINTER STREET White Rock 2021-07 420,000 2022-01 448,000 6 7

Townhouse

Address City Date Bought Price Bought Date Relisted Price Relisted Months held Mark up %
105 15529 87A AVENUE Surrey 2020-09 520,000 2021-03 839,880 5 62
58 10480 248 STREET Maple Ridge 2021-01 790,467 2021-09 899,900 8 14
72 5850 177B STREET Surrey 2021-04 480,000 2021-09 758,800 6 58
187 13734 67 AVENUE Surrey 2021-07 499,000 2021-11 599,000 4 20
65 13880 74 AVENUE Surrey 2021-01 505,000 2021-11 751,999 10 49
10 15168 66A AVENUE Surrey 2021-07 860,000 2021-12 1,150,000 5 34
24 8291 GENERAL CURRIE ROAD Richmond 2021-06 890,000 2021-12 1,299,000 6 46
W110 12040 PLAZA STREET Maple Ridge 2021-03 698,900 2022-01 799,999 9 14
15 20559 86 AVENUE Langley 2021-09 949,900 2022-01 1,099,900 3 16
TH6 6333 KATSURA STREET Richmond 2021-10 1,000,000 2022-01 1,399,890 3 40
215 9466 PRINCE CHARLES BOULEVARD Surrey 2021-04 650,000 2022-01 879,999 9 35
9 20559 86 AVENUE Langley 2021-09 919,900 2022-01 1,090,000 4 18
W109 12040 PLAZA STREET Maple Ridge 2021-03 744,900 2022-01 859,900 10 15
16 20559 86 AVENUE Langley 2021-10 984,900 2022-01 1,155,000 3 17
54 6641 138 STREET Surrey 2021-09 460,000 2022-01 599,999 4 30
77 17557 100 AVENUE Surrey 2021-03 949,900 2022-01 998,000 11 5
66 20176 68 AVENUE Langley 2021-05 639,000 2022-01 789,000 8 23
55 5380 SMITH DRIVE Richmond 2021-02 1,060,000 2022-01 1,138,000 12 7
52 8767 162 STREET Surrey 2021-05 605,000 2022-01 749,000 9 24
2 19760 55 AVENUE Langley 2021-11 825,000 2022-01 995,900 2 21
66 16433 19 AVENUE Surrey 2021-03 670,000 2022-01 838,888 10 25
8561 SEASCAPE LANE West Vancouver 2021-03 1,999,900 2022-01 2,398,000 11 20
15 7955 122 STREET Surrey 2021-03 770,000 2022-01 999,000 11 30
30 12585 72 AVENUE Surrey 2021-10 800,000 2022-01 945,000 4 18
54 13499 92 AVENUE Surrey 2021-02 669,000 2022-01 899,000 12 34
64 2501 161A STREET Surrey 2021-03 1,130,000 2022-01 1,288,000 10 14
2 20559 86 AVENUE Langley 2021-10 934,900 2022-01 1,149,990 4 23
17 16261 23A AVENUE Surrey 2021-05 871,018 2022-01 899,000 9 3
80 6123 138 STREET Surrey 2021-07 735,000 2022-01 899,900 6 22
197 8333 JONES ROAD Richmond 2021-02 648,000 2022-01 839,990 12 30
77 15151 EDMUND DRIVE Surrey 2021-02 739,900 2022-01 899,000 11 22
23 14285 64 AVENUE Surrey 2021-05 720,000 2022-01 899,000 9 25

Leave a Reply

Your email address will not be published. Required fields are marked *