The 2021 Victoria real estate market year in reviewA total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December
B.C. stats show foreign capital accounted for 2.92 percent of Metro Vancouver residential sales over 11 months
Dated: January 10 2019
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B.C. stats show foreign capital accounted for 2.92 percent of Metro Vancouver residential sales over 11 months
Last August, respondents to an Insights West poll in August identified four "primary causes" affecting the real-estate market.
They were, in order of responses, foreign homebuyers (84 percent), population growth (80 percent), shadow flipping (76 percent), and money laundering (73 percent).
But recently released B.C. government statistics suggest that foreign capital is not nearly as significant in the residential market as many might believe.
From January to November of 2018, foreign capital was involved in only 1,438 of the 49,210 transactions in Metro Vancouver.
That's only 2.92 percent of all transactions. The percentage rose to 4.07 percent in November when the market was exceptionally slow. (This information was initially disseminated over Twitter by former Statistics Canada employee Victor Wong.)
The chart below was taken from the DataBC website.
Steven Axford
Steve is a award winning Realtor in Victoria BC, with his listings selling faster and for top dollar! Growing up in Victoria, BC and has always been active in his community. Steve is a Victoria Couga....
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