Saanich

Saanich manages to pull off something most communities can’t — it’s both a suburb and a destination. While Victoria gets the tourist crowds and government workers, Saanich quietly offers the best of Vancouver Island living without the downtown hustle.

The numbers tell a compelling story for mortgage professionals. With a median household income of $93,000 and 70% maximum LTV available through Tekamar, there’s solid lending opportunity here. The housing mix favors single-detached homes at 46.6%, but the substantial duplex market at 21.5% creates interesting refinancing and investment scenarios that brokers should note.

What sets Saanich apart isn’t just its proximity to Victoria — it’s the lifestyle infrastructure that keeps property values stable. Cadboro Bay Beach draws families year-round, while the Saanich Peninsula wine region has quietly become a serious player in BC’s wine scene. The mild Zone 9a climate means gardens that would make Vancouverites jealous and outdoor activities that don’t require winter hibernation.

The demographic profile reveals why this market works for lenders. At 44.4 years median age with 23.1% seniors, you’re looking at established homeowners with equity to leverage. Many are government workers who commute the short distance to Victoria, creating predictable income streams that make underwriting straightforward.

Saanich’s economic foundation rests on healthcare, public administration, and professional services — sectors that don’t disappear overnight. The 32.7% of residents with commutes under 15 minutes suggests many work locally, reducing economic vulnerability to external shocks.

For brokers working with clients who want island living without island isolation, Saanich delivers. It’s close enough to Victoria for urban amenities but far enough out for acreage properties and hobby farms. The combination of lifestyle appeal and economic stability makes it the kind of market where equity-based lending makes perfect sense.