Williams Lake

Williams Lake isn’t trying to be the next Kelowna, and that’s precisely its strength. Known locally as “Billy’s Puddle,” this is the undisputed hub of the Cariboo. The cowboy culture here isn’t a tourist gimmick; it’s the city’s DNA, anchored by the century-old Williams Lake Stampede. For brokers, this means you’re dealing with a market that has a clear, long-standing identity. It’s not a place driven by speculative booms but by the steady rhythm of its core industries.

While the city’s identity is tied to forestry and ranching, the economic reality is more diverse. Manufacturing, mostly tied to wood products, is a major employer making up over 10% of the economy. But the real bedrock of stability comes from healthcare and retail. Together, these two sectors employ nearly 28% of the workforce, cementing Williams Lake’s role as the main service centre for a vast rural area. This diversification is critical for our underwriting. It provides a crucial buffer against the commodity cycles that affect the mills. When forestry slows down, the town’s economy doesn’t just collapse, which is a key reason we’re comfortable lending here. However, the 7.9% unemployment rate and modest median income signal a working-class economy with real-world pressures.

The lifestyle creates a consistent floor for housing demand. People choose Williams Lake for access to the backcountry, a slower pace, and a tangible sense of community. The housing stock reflects this pragmatism: single-detached homes make up nearly half the market, with a functional mix of townhouses, duplexes, and low-rise apartments. It’s a market built for residents, not for a transient vacation crowd. This results in predictable demand and stable, if not spectacular, property values. We see consistent activity from families, local business owners, and people cashing out of more expensive markets for a quieter life.

This mix of resource dependency and steady local demand is exactly what we analyze when setting our lending limits. The stable demand gives us confidence in the market’s long-term viability. But the inherent volatility of the forestry sector, combined with local income levels, means we have to be disciplined. Our recovery models account for longer sale times and potential price softness during economic downturns.

For those reasons, we are active in the Williams Lake market, but we approach it with a conservative mindset. We see good opportunities for equity-based loans, second mortgages, and bridge financing for clients who understand the community. Our maximum loan-to-value in Williams Lake is 60.0%. It’s a market we understand well, and we’re comfortable funding solid deals for brokers who know the area.