Victoria

Victoria’s property market moves to a different rhythm than the rest of BC. While other cities chase boom cycles, the capital maintains steady demand from three reliable sources: government workers who aren’t going anywhere, retirees drawn by the mildest climate in Canada, and tourists who fall in love and decide to stay.

The numbers tell the story of a mature market. With nearly half the housing stock in apartments under five stories and only 13.6% single-detached homes, Victoria solved density before it became trendy. The median age of 42.8 years reflects a community that’s found its sweet spot—young enough for energy, established enough for stability.

Government employment provides the economic backbone here, representing nearly 13% of jobs. Add healthcare, professional services, and tourism, and you’ve got an economy that doesn’t depend on commodity prices or single industries. When other BC communities worry about mill closures or mining downturns, Victoria keeps humming along.

The climate advantage can’t be overstated. Plant hardiness zone 9a means gardens bloom year-round and heating bills stay reasonable. That 15.4% improvement in growing conditions over recent decades? It’s making Victoria even more attractive as other regions deal with harsher weather patterns.

For mortgage brokers, Victoria represents 70% maximum LTV opportunities in a market where properties move quickly when priced right. The 23.2% senior population creates steady refinancing needs, while the educated workforce (74.4% post-secondary) typically qualifies for traditional lending—except when they don’t, and that’s where we come in.

The Inner Harbour draws millions annually, but locals know the real gems: cycling the Galloping Goose Trail, browsing the Saturday market, or watching orcas from Dallas Road. It’s a place where people choose to live, not just end up.