Oak Bay

Oak Bay sits on southern Vancouver Island like a well-kept secret that everyone’s in on. This municipality hugs the coastline just east of Victoria, where waterfront properties command serious respect and the median household income of $107,000 reflects a community that’s figured out how to live well.

The numbers tell a story that mortgage brokers should pay attention to: 63% single-detached homes in a market where land is finite and demand stays consistently strong. With a median age of 54.4 years and over a third of residents being seniors, Oak Bay attracts people who’ve reached the stage where equity matters more than leverage. These aren’t first-time buyers stretching for maximum financing—they’re established homeowners making calculated moves.

What makes Oak Bay different from other Victoria-area communities? It’s managed to maintain an almost village-like character while sitting next to a capital city. The municipality has strict development controls that keep density reasonable, which means property values hold their ground even when broader markets wobble. Residents here aren’t just buying houses; they’re buying into a lifestyle that includes morning walks along Willows Beach, afternoon sailing, and evening strolls through Uplands Park.

The employment base tilts heavily toward stable sectors—healthcare, professional services, and public administration dominate. These aren’t industries that vanish overnight, and the proximity to Victoria’s government hub provides economic stability that translates into mortgage security.

For mortgage brokers working with clients who need alternative lending solutions, Oak Bay represents the sweet spot of strong equity positions and stable property values. Our 60% maximum LTV reflects both the community’s desirability and our confidence in long-term property marketability. Whether it’s debt consolidation for retirees, bridge financing for property transitions, or equity-based lending for self-employed professionals, Oak Bay’s fundamentals support reliable mortgage outcomes.