Creston

Creston sits in one of BC’s most fertile valleys, where the Kootenay River has created a natural floodplain that’s been drawing farmers and retirees for decades. The town’s 55% maximum LTV reflects the unique challenges of this scenic but somewhat isolated market, where properties can take longer to move despite their undeniable charm.

What makes Creston different isn’t just the stunning mountain backdrop or the fact that it’s one of the few places in BC where you can grow peaches commercially. It’s the demographic story unfolding here. With a median age pushing 58 and nearly 40% of residents over 65, Creston has become a retirement magnet for people seeking affordable mountain living without the Kelowna price tags.

The housing market tells an interesting tale. Three-quarters of homes are single-detached houses, and the mild Zone 6b climate means year-round outdoor activities that keep property values stable. The Creston Valley Wildlife Management Area draws nature enthusiasts from across North America, creating a steady stream of potential buyers who fall in love with the area during visits.

Healthcare and retail dominate the local economy, which makes sense given the aging population. The unemployment rate sits higher than provincial averages, but that’s partly because many residents are retired and not actively seeking work. Manufacturing still plays a role, particularly food processing that takes advantage of the valley’s agricultural bounty.

For mortgage brokers, Creston represents opportunities with clients who’ve built equity elsewhere and want to stretch their dollars in a place where $400,000 still buys a decent house with mountain views. The challenge isn’t finding buyers—it’s the limited inventory and the reality that properties here require patience to sell, which is exactly why our conservative LTV makes sense for both borrowers and our investor families.