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Sharp drop in home speculation recorded in Metro Vancouver
Metro Vancouver’s housing market is recording a sharp drop in real estate speculation, with flipping levels plummeting this month after reaching a peak in November last year. The successful quick flip rate (QFR) for single detached properties plunged to just 0.3% so far in April 2022, after hitting a six-year high of 5.7% in November […]
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$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 […]
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Flipper makes $450K flipping Vancouver home through numbered company during pandemic
A flipper has made $450,000 dollars flipping a heritage home in East Vancouver’s Collingwood neighbourhood using a numbered company. 1298773 BC Ltd bought the 1914-built home at 2447 East 41st Avenue for $1,050,000 in April 2021, according to public records. Three days later, the numbered company listed the property for $1,499,000. The property sold on […]
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Flippers make $165K flipping downtown condo during pandemic with copy-and-paste listing
A pair of flippers in Vancouver have made a cool $165,000 flipping a downtown condo during the pandemic with a mostly copy-and-paste sales listing. Student Lola Pearl Quinn and technical recruiter XiuQi Wang bought the condo at 310-933 Seymour Street for $565,000 in October 2020, according to public records. A little over six months later, […]
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Vancouver realtor makes $420K flipping home during pandemic
A Vancouver realtor has made $420,000 flipping a heritage home in Vancouver’s Kitsilano neighbourhood. Keith Roy of RE/MAX Select Realty bought the heritage home at 1829 Stephens Street for $1,430,000 in April 2020, according to public records. Seven months later, Roy listed the property for $1,998,000, but failed to find a buyer. Roy re-listed the […]
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Flipper makes $400K flipping brand new Vancouver home during pandemic
A flipper has made $400,000 dollars flipping a brand new home in east Vancouver’s Sunset neighbourhood. Weijian Liang bought the brand new home at 418 East 56th Avenue for $2,200,000 in July 2020, according to public records. Nine months later, Liang listed the property for $2,490,000, only to take it off the market at and […]
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Nearly half a billion dollars worth of homes flipped during the pandemic in Vancouver
Vancouver area Speculators flipped almost half a billion dollars worth of homes so far during the pandemic, an analysis of regions real estate data shows. MetroVancouver speculators have to date flipped a staggering 460 properties worth $490 million since the World Health Organization (WHO) declared COVID-19 a pandemic on March 11, 2020. OpenHousing defines a […]
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Vancouver’s house flipping numbers contradict Bank of Canada governor’s claims of no speculation in real estate market
By Rohana RezelBank of Canada governor Tiff Macklem said two weeks ago that he has yet to see any signs of speculation in Canada’s hot housing market. We analyzed Metro Vancouver real estate data over the last decade to see if Macklem’s claim is based on facts. We found a clear increase in levels of […]
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