Last reviewed by Tekamar Mortgage Fund on
Show on MapDaajing Giids (Queen Charlotte) is a remote island hub with a stable, retiree-friendly economy, but its extreme isolation makes foreclosures slow and expensive. Because of those logistics, we cap our max LTV at 55.0%. It's a solid lending market, but only for well-qualified buyers putting down serious equity.
Daajing Giids, historically known as Queen Charlotte, officially reclaimed its traditional Haida name in 2022. For brokers placing deals here, geography is the primary risk factor. Situated on the southern edge of Graham Island, access is restricted to the Sandspit airport or the ferry from Prince Rupert to Skidegate. This isolation creates a highly insulated, low-liquidity real estate market. The population stands at 964, representing a 9.0% growth rate since 2016. Despite this growth, housing turnover remains slow, as residents tend to hold properties long-term.
The local economy achieves stability through public sector employment rather than volatile resource sectors. Health care and social assistance leads the workforce at 15.0%, followed by retail trade at 10.3%, and educational services at 9.3%. This concentration in public administration, health, and education translates to reliable, salaried T4 income for borrowers. The economic profile is solid, reflected in a low 3.7% unemployment rate and a 62.2% employment rate. Commuting is minimal, with 56.8% of workers experiencing a commute of under 15 minutes, averaging 18.6 minutes overall. This high rate of local employment reinforces community stability.
The housing stock is limited, consisting of 574 private dwellings. Single-detached homes dominate the market at 76.5%, followed by apartments under five storeys at 9.2%, duplexes at 7.1%, and a small mix of movable and row housing. Geographic and regulatory barriers limit new construction. With the Pacific Ocean on one side and steep, forested terrain on the other, the availability of serviced land is severely constrained. Geotechnical challenges and strict environmental regulations make new subdivisions unfeasible. Consequently, inventory is scarce, and transactions typically involve older homes or properties requiring renovation. This lack of supply prevents rapid price depreciation but results in prolonged marketing times.
Lending in remote coastal communities like Daajing Giids requires a conservative approach to risk mitigation. While the local economy is stable, the thin buyer pool presents liquidation risks. If a borrower defaults, the foreclosure process is slowed by logistics and a lack of local buyers. While a property sits on the market, carrying costs, legal fees, and unpaid interest quickly erode equity.
To offset these geographic risks and protect capital, Tekamar caps financing at a maximum of 55.0% LTV in this community. We assess Daajing Giids with a desirability score of 6/10 and an economic score of 7/10. We will consider applications for equity take-outs, debt consolidation, or bridge financing, provided the loan falls within this LTV threshold and the property condition supports the valuation.
We cap lending at 55.0% LTV because of the island's remoteness. If a loan defaults, the foreclosure process takes significantly longer and costs way more than it would on the mainland.
It’s surprisingly stable, driven by healthcare, government services, and education rather than volatile resource booms. To get a deal done, your borrower needs stable, local employment and a genuine connection to the community.
Any file with high leverage or a borrower relying on outside, non-local income will get rejected. We need to see a minimum of 45% equity and a solid financial footing right on the island.
Unfortunately, we currently don't have any mortgage products listed for Queen Charlotte.
Please check back soon, or contact support if you need assistance.