Highlands

Highlands isn’t a town; it’s a concept. Brokers should think of it less as a municipality and more as a protected green space with high-end houses scattered through it. The population has grown over 11% since 2016, but with a density of only 65 people per square kilometer, that growth hasn’t changed the fundamental character of the place. Located in the Capital Regional District, just a 20-minute drive from Victoria, this is a bedroom community for people who value privacy and acreage over sidewalks and corner stores. There’s no town centre to speak of, and that’s entirely the point. The identity here is built on what’s not here: no industry, no commercial corridors, and very little new development.

The housing stock is exactly what you’d expect. Forget about condo deals or starter homes; nearly 95% of the dwellings here are single-detached houses on large, often rugged lots. This brings a very specific type of client. The borrower in Highlands is typically a professional or executive with stable employment in the Greater Victoria area, and the median household income of $122,000 confirms this. With a median age of 45.6 and a large working-age population, these are established families buying into a specific, semi-rural lifestyle. They get immediate access to hiking trails and nature while being supported by the economic engine of the provincial capital next door.

From a lending perspective, the stability of Highlands comes from its engineered scarcity. Much of the district is made up of protected parklands, lakes, and hills, which permanently constrains the supply of new property. The hilly topography and restrictive zoning prevent the kind of speculative development that can destabilize other markets, creating a strong floor under property values. The local economy is really the regional economy. Residents work in diverse sectors—construction is the largest at over 20%, but healthcare, retail, and public administration are also major employers. This isn’t a one-industry town susceptible to a single point of failure, and the low 4.9% unemployment rate proves the resilience of the local workforce.

This combination of a predictable market, strong demographics, and built-in scarcity is why we’re comfortable lending in Highlands. The resale demand is consistent, drawing buyers from both the Victoria market and the mainland who are looking for exactly this kind of lifestyle. These are high-quality assets in a desirable, commutable location where demand consistently outstrips supply. For the right deal on a solid piece of real estate, our maximum loan-to-value here is 70.0%. It’s a niche market, for sure. But for brokers with the right client seeking an equity-based loan, Highlands is one of the most straightforward and dependable areas to do business. The exit strategy is clear because the appeal of the community is permanent.