Sidney

Sidney isn’t just another Victoria suburb; it’s the Saanich Peninsula’s commercial hub. For any broker looking at deals here, the key is understanding that this isn’t a speculative, high-growth market. It’s a mature town where value is stable and deeply rooted. We consider it a prime lending area because consistent demand and an exceptional lifestyle—think waterfront access and a mild climate—protect collateral values over the long term.

The demographics tell the whole story. The median age here is 62, with seniors making up 45% of the population. This isn’t a place for hustle; it’s built for a different pace of life. The housing stock reflects this, with nearly 40% of homes being low-rise apartments and row houses perfect for downsizing. This large, stable demographic of retirees means properties are well-maintained and the community is invested for the long haul. They aren’t going anywhere, which creates steady demand and strong resale potential for properties that cater to them.

Sidney’s economy is solid because it isn’t a one-trick pony. There’s no single mill or mine that could shut down and gut the town. Instead, the job market is anchored by stable, essential sectors: health care (16.5%), retail (13.6%), and public administration (9.2%). This diversity, plus the steady business from the nearby ferry terminal and airport, keeps the local economy humming and the unemployment rate at a low 4.7%. From a lender’s perspective, that mix is exactly what we want to see. It means a downturn in one industry won’t tank local property values.

What really cements Sidney’s value is the lifestyle, which is a direct result of its geography. The town enjoys a Plant Hardiness Zone 9a climate—one of the mildest in Canada—making it a top destination for retirees from across the country. This isn’t just a nice-to-have; it’s a fundamental driver of demand. Add in the waterfront access, a scenic boardwalk, and plenty of amenities, and you have a location with enduring appeal. Development is also tightly managed. Being on a peninsula means there’s finite land, and the town’s official plan prioritizes controlled growth. You won’t see sprawling subdivisions pop up and dilute existing value, which puts a solid floor under the market.

Put it all together—a stable retiree demographic, a diverse local economy, and a constrained supply of land in a highly desirable climate—and you get a market we are confident in. We understand the fundamentals here and know that property values are well-supported. For the right property, our confidence is reflected in our willingness to fund deals up to a 70.0% LTV. We are actively lending in Sidney and welcome proposals from our broker partners.