Saanich

Saanich is the most populous municipality on Vancouver Island, serving as the residential core of Greater Victoria. With a population of 117,735 (reflecting 3.1% growth since 2016), the municipality wraps around Victoria’s northern border. Unlike volatile speculative markets, Saanich offers a stable, supply-constrained environment backed by the region’s largest institutional employers: healthcare, public administration, and education.

The geography prevents rapid expansion. Saanich spans 103.59 square kilometers, but development is heavily restricted by zoning and established neighborhoods. You can drive from student housing near UVic, through quiet pockets like Broadmead, to waterfront homes in Cordova Bay within fifteen minutes. This lack of raw land means there is almost no room for large-scale subdivisions. From a mortgage underwriting perspective, this absolute ceiling on housing supply minimizes downside risk during market downturns.

The local economy is anchored by stable institutions. Health care and social assistance make up 15.0% of local employment, followed by public administration at 11.8%, and educational services at 9.2%. This employment base supports a steady housing market. Single-detached houses make up 46.6% of the housing stock, supplemented by duplexes at 21.5% and low-rise apartments at 20.3%. The population is mature, with a median age of 44, and highly educated, with 72.1% holding post-secondary credentials. These demographics translate to reliable demand and a highly liquid resale market.

Our lending guidelines in Saanich

At Tekamar, we focus strictly on British Columbia markets outside of Metro Vancouver and the Fraser Valley. While we frequently lend in smaller, rural communities, established municipal markets like Saanich form a critical anchor for our portfolio. We manage private capital, meaning capital preservation is our primary focus. We stress-test every deal against realistic foreclosure timelines, carrying costs, and average days on market. Because Saanich benefits from consistent demand and constrained inventory, properties here retain value and liquidate quickly if needed.

Due to this strong liquidity and economic resilience, our maximum loan-to-value (LTV) for Saanich is 70.0%. This represents our top-tier LTV limit, reserved for primary and highly desirable secondary markets in BC.

We work directly with mortgage brokers to fund files that traditional banks and credit unions reject. Whether your client needs a quick bridge loan to secure a property in Cadboro Bay, an equity-based second mortgage for a self-employed borrower, or a debt consolidation loan in Royal Oak, we can help. We understand the Saanich market, from the luxury properties on the coast to the small acreages on the edge of town. Send us your deal details and we will provide a fast, direct decision.