Quesnel

Quesnel is a Cariboo town, through and through. Situated where the Fraser and Quesnel Rivers meet, its identity is rooted in the 1860s Gold Rush, and that working-class, resource-town DNA is still very much present. This isn’t a resort community or a retirement haven drawing equity from the Lower Mainland. It’s a stable, industrial-rural hub built on forestry, with mining and agriculture playing their supporting roles. The vibe is practical, shaped by the people who work the mills and the land.

The real estate market here is a direct reflection of the local economy—no speculation, just fundamentals. Demand is tied to jobs, plain and simple. When the mills are running, houses sell. The housing stock is dominated by single-detached homes, making up nearly 60% of all dwellings, mostly occupied by local working families. Population growth is basically zero, and with a median age of 45.6, this is a mature community. What’s more, nearly a quarter of the population is over 65, which tells us a couple of things: it’s a stable place people choose to retire in, but it also means there isn’t a wave of young, high-earning buyers pushing up prices.

From an underwriting perspective, our analysis of Quesnel is all about the economic realities. The town’s heavy reliance on forestry is the number one risk factor. Manufacturing, which in Quesnel is almost entirely forestry-related, accounts for nearly 17% of all jobs. Any downturn in the global price of lumber hits this town hard and fast. That risk is reflected in the 10.5% unemployment rate—a number that’s persistently high and signals a lack of diversification. This isn’t just an abstract statistic; it directly impacts a borrower’s ability to weather a job loss and our ability to liquidate a property if a loan goes into default. The median household income of just $67,000 further limits the pool of qualified buyers and puts a ceiling on property values.

This doesn’t mean we don’t lend in Quesnel. We just have to be smart about it. We see opportunities for sensible loans to borrowers with stable employment and a clear repayment plan. But our approach has to be conservative. The combination of a single-industry economy, high unemployment, and modest incomes means our margin for error is thin. For brokers, this means we’re a great fit for clients with significant equity—think refinances, debt consolidations, or purchases with a large down payment. We’re not financing speculative builds or high-ratio purchases here. Our lending is grounded in the town’s economic reality. That’s why our maximum LTV in Quesnel is 55.0%. This isn’t an arbitrary number. It’s a calculated buffer that protects our investors’ capital by accounting for the town’s industrial strengths while fully acknowledging its vulnerabilities and the potential for slow market conditions.