Victoria, BC is often pictured as a postcard city—charming harbour, iconic Parliament Buildings, and colourful gardens. But if you’re thinking about moving to Victoria, relocating for work, or investing in Vancouver Island real estate, there’s a lot more beneath the surface than most people realize.
As local Realtors with the North Pacific Homes Group, we help newcomers navigate both the beauty and the complexity of this unique West Coast market. From hidden zoning rules to micro-markets that behave like completely different cities, Victoria is full of things that can dramatically impact where you choose to live and how you invest.
Here are 10 surprising things most people don’t know about Victoria—and why they matter for buyers, sellers, and relocation clients.
1. Victoria Has Some of the Oldest Housing Stock in Western Canada
If you love character homes, you’re going to love Victoria.
Neighbourhoods such as Fairfield, Fernwood, and James Bay are filled with century-old houses dating back to the late 1800s and early 1900s. These properties come with unique charm—wood beams, stained glass, brick chimneys, and gorgeous craftsman detail.
But here’s the catch:
Heritage zoning and conservation rules are everywhere.
This means:
- You may need special approval for exterior updates
- Additions or structural changes might be restricted
- Some windows and materials must match the original architecture
For many relocation buyers, this is a surprise. Homes that look “fixer-upper friendly” sometimes can’t be renovated the way they expect.
As local experts, we help clients understand which properties offer flexibility—and which come with limitations—before they write an offer.
2. Victoria Is in a Rain Shadow — Meaning Much Less Rain Than Vancouver
Moving from the Lower Mainland? Here’s good news:
Victoria gets roughly 40% less rainfall than Vancouver.
Thanks to the Olympic Mountains on the U.S. side, many major weather systems get blocked before reaching Greater Victoria. That means:
- More sunshine
- More usable outdoor space
- More dry weekends
- Better gardening conditions
This is also why outdoor features like decks, patios, and covered living areas add real resale value here. For buyers planning to invest in lifestyle spaces, Victoria’s climate makes it worth it.
3. The Real “Mile Zero” of the Trans-Canada Highway Is Right Here
Many people snap a picture at the “Mile Zero” marker near Beacon Hill Park without realizing its deeper importance.
The surrounding area—James Bay and Dallas Road—includes some of the highest-valued real estate per square foot in the region. And it’s no wonder:
- Oceanfront walking routes
- Beach access
- Heritage charm
- High walkability to downtown
For relocation clients wanting the “classic Victoria lifestyle,” this area offers postcard views with long-term appreciation potential.
4. Canada’s Oldest Chinatown Is Still a Top Investment Zone
Victoria’s Chinatown isn’t just historically significant—it’s one of the most vibrant urban micro-markets on Vancouver Island.
Many don’t realize the area includes:
- Unique zoning
- Micro-loft apartments
- Converted heritage warehouses
- Consistent rental demand from professionals
Investors often overlook the upper-floor units tucked above street-level businesses. These spaces often rent quickly and offer strong returns due to their location and character.
If you’ve ever wanted to own a piece of living history, Victoria’s Chinatown is a great place to start.
5. Victoria Is Quietly Densifying Through “Missing Middle” Housing
One of the biggest changes in Victoria real estate right now is the Missing Middle Housing Initiative.
This relatively new policy allows:
- Triplexes
- Townhomes
- Garden suites
- Multi-unit infill
- Higher density on traditional single-family lots
This means some older properties now have new development potential—which can dramatically increase value.
When we evaluate homes for relocation clients, we always check:
- The Official Community Plan (OCP)
- Zoning layers
- Neighbourhood densification plans
This often uncovers opportunities that other buyers completely miss.
6. Victoria Has the Highest Number of Registered Heritage Homes Per Capita in Canada
Heritage homes are part of what makes Victoria so special. Streets in Rockland, James Bay, Oak Bay, and Fairfield are full of preserved properties with unmatched curb appeal.
But buyers should know:
- Heritage designation can limit exterior changes
- Windows, paint colours, and additions may require approval
- Renovations may take longer and cost more
However…
These homes hold their value extremely well.
And they consistently attract buyers relocating from Alberta and Ontario who want something one-of-a-kind.
7. Victoria Has Over 70 Distinct Neighbourhood Micro-Markets
One of the biggest surprises for newcomers is how differently each neighbourhood performs.
Some examples:
- Rockland: large estates, embassy homes, quiet streets
- Oak Bay: coastal, established, high resale demand
- Fernwood: artsy, walkable, vibrant community culture
- Langford: fast-growing, more affordable for families
- Saanich East: top schools, convenient commuting
- Esquimalt: oceanfront redevelopment, strong value growth
When people ask, “How’s the market in Victoria?”
We always respond: Which one?
Because the answer truly changes street by street.
8. Short-Term Rental Rules Are Much Stricter Than Most Buyers Realize
If you’re relocating to Victoria and looking for an investment property, this is critical:
Victoria has some of the strictest short-term rental regulations in BC.
In the City of Victoria, STRs are generally only allowed in:
- Designated buildings
- Licensed units
- Specific downtown zones
But the surrounding municipalities—Colwood, Saanich, Oak Bay, Sidney, View Royal, Langford—each have their own rules.
One block can change your entire investment strategy.
As local Realtors, we help clients match their goals to the right area so they avoid costly mistakes.
9. Victoria Is One of the Few Canadian Cities With Year-Round Cruise Tourism
Between April and October, more than 300 cruise ships visit Ogden Point, bringing thousands of passengers every week.
This matters because the influx:
- Supports downtown businesses
- Drives short-term rental demand
- Increases employment opportunities
- Strengthens the overall tourism economy
For investors and future landlords, this is a subtle but important economic driver that helps keep the local rental market strong—especially near James Bay, downtown, and surrounding neighbourhoods.
10. Victoria Is Growing, But It Still Feels Like a Small-Town Market
Even with around 400,000 people in Greater Victoria, the housing market still behaves like a close-knit community.
- Off-market deals happen quietly
- Builder relationships matter
- Insider neighbourhood knowledge is essential
- Many sellers prefer working with local buyers
- Word-of-mouth can influence opportunities
This is why working with a truly local team is so important—especially for relocation clients who don’t yet know the rhythms of the city.
At North Pacific Homes Group, we live and breathe this market every day. We know the communities, the schools, the zoning, and the opportunities that don’t always show up online.
Thinking About Moving to Victoria? We Can Help.
Whether you’re relocating for lifestyle, work, retirement, or investment, Victoria is one of the most desirable and unique real estate markets in Canada.
Our team helps buyers:
✔ Find the right neighbourhood for their lifestyle
✔ Understand zoning, heritage rules, and local regulations
✔ Identify hidden opportunities and micro-market trends
✔ Navigate multi-offer situations and off-market homes
✔ Make a confident and informed transition to life on Vancouver Island
If you’re thinking about buying, selling, or investing in Victoria, we’d love to show you what’s possible.
