Live Luxuriously: 5 Most Expensive Neighbourhoods in Victoria

The city of Victoria is known for its picturesque landscapes, stunning architecture, and vibrant culture. It is also home to some of the most expensive neighbourhoods in British Columbia. These neighbourhoods boast waterfront properties, stunning views, and upscale amenities that attract those looking to live in luxury. Whether you are moving to Victoria or just curious about the city's most expensive areas, this article provides insight into the most expensive neighbourhoods in Victoria.

Fernwood

Fernwood's historic, walkable community is located just east of downtown, bounded by Shelbourne, Haultain, Cook, and Fort Streets. The community is centred around Fernwood Square, located at the intersection of Fernwood Road and Gladstone Avenue. It's home to The Fernwood Inn, the Fernwood Community Centre, Victoria High School, and even entertainment options at the Belfry Theatre.

Along with art galleries and unique local businesses, it helps establish a tighter-knit community than many big city neighbourhoods. Outside of this central area, most of Fernwood is residential. But potential buyers shouldn't be fooled—downtown's shopping, dining, and nightlife are just a short trip away, as are the beaches and waterfront areas of the Oak Bay neighbourhood to the east. Various community parks are spread throughout the region, like Stadacona Park and Alexander Park.

Fernwood's housing stock combines condos and single-family detached homes in various styles and price ranges. Condos start in the mid-to-high $500s, reaching around $1 million for newer luxury units. Single-family homes in Fernwood start at the top of this range, sometimes selling as high as $2.5 million. Many date back to the community's original development in the late 19th and early 20th centuries, providing plenty of historic charm with modern updates.

James Bay

One of Victoria's original neighbourhoods, James Bay, sits on a peninsula on the city's southern edge, surrounded by the Inner Harbour on two sides and the Strait of Juan de Fuca on the remaining one. With the feel of a quaint fishing village mixed with some of Victoria's top attractions, it's easy to see why it's among the city's most expensive and desirable communities.

Residents can stroll the charming and authentic Fisherman's Wharf or Breakwater waterfront areas, grab some seafood at local favourites like Barb's Fish and Chips or Steamship Grill & Bar, or explore the grounds of the Legislative Assembly of British Columbia or the exhibits of the Royal BC Museum. It's also just a short walk, drive, or public transit trip to the heart of downtown, making it convenient for those working in the city core or just heading in for a day or evening out.

Would-be homebuyers in James Bay will find a unique mix of old and new, represented by condos, townhouses, and single-family detached homes. James Bay's share of Victoria condos and other multifamily properties generally list from just under half a million dollars to as high as $5–$7 million for ultraluxury penthouses. Typical detached single-family homes in James Bay (including historical ones) can be found from $1.25 million to over $3 million.

Rockland

Rockland has been among Victoria's priciest areas since it was first developed in the late 1800s. Home to some of the city's most breathtaking historic homes, none are more notable than the famous Craigdarroch Castle. This one-time private home now showcases incredible architecture and period decoration on tours and for private events.

Among Rockland's other high-class attractions are the Art Gallery of Greater Victoria, the Langham Court Theatre, and even the Government House, where visitors can tour the historic official home of the Lieutenant Governor. Rockland residents can have the best of all worlds, with easy access to dining and shopping in adjacent communities like Fernwood, while enjoying the serenity of a quiet, almost entirely residential place to call home.

Homes in Rockland are primarily single-family detached properties, including the many opulent historic homes spread throughout the leafy community. However, several recently built modern options are also available. These detached properties typically sell for $2–$4 million. However, some condos are also available in new construction high-rises around the neighbourhood's borders and in converted homes throughout the area. Condos start in the low $400s but can reach over $2 million.

Victoria West

Victoria West (often called Vic West) occupies a small peninsula opposite the harbour from James Bay and downtown Victoria. This waterfront space is among the neighbourhood's biggest highlights, particularly the gorgeous Songhees Walkway, which offers incredible city views, or Banfield Park, where bikers or runners can hop on the famous Galloping Goose Trail. These are just a few of the area's many community green spaces, most offering water views and other amenities.

Victoria West is also home to many excellent dining and nightlife options, from high-end Boom and Batten to informal neighbourhood institutions like Spinnakers Gastro Brewpub. The possibilities of downtown are also just a short walk away over several pedestrian-friendly bridges.

A growing number of condo options define housing in Victoria West, particularly in the waterfront areas. Vic West condos typically start just over half a million dollars for more modestly sized or older units but can reach three times that for modern luxury properties. The rarer single-family homes in Vic West can be found for $1 million or more, including spacious over 3,000 square feet options.

Fairfield

Sitting along the shores of the Strait of Juan de Fuca, Fairfield offers high-end homebuyers another highly walkable Victoria neighbourhood. Fairfield is just southwest of downtown Victoria, a short walk for residents looking to head to work or enjoy the area's many amenities and attractions.

Closer to home, the Cook Street Village covers a thriving stretch of its namesake road, packed with restaurants, coffee shops, and other small local businesses conveniently located just around the corner from many homes. The community's western border consists of Beacon Hill Park, one of Victoria's most beloved green spaces. It offers walking trails, multiple playgrounds and spray parks, sports facilities, performance spots, and more, spread through 740,000 square metres of waterfront green space. Meantime, Dallas Road offers some of the city's best views and observation points.

Fairfield housing combines single-family detached homes and low-, mid-, and high-rise condos. While some condos can be found for as low as the mid-$200s, most start in the high $400s, topping $2 million for the highest-end homes. Single-family homes in Fairfield East and Fairfield West begin at just under $1.5 million; the neighbourhood's share of Victoria waterfront homes sometimes reaches $3 million or more. Some date back to before the turn of the 20th century, offering unique style and historic charm.

Luxury Awaits in Victoria's Central Neighbourhoods

Victoria, British Columbia, is home to some of the province's most luxurious and expensive neighbourhoods. From the waterfront properties in James Bay to the exclusive estates in Fernwood, these communities—some of Victoria's best neighbourhoods—are known for their upscale amenities, stunning views, and high-end lifestyles.For those looking for a taste of the high life or simply curious about the city's most expensive neighbourhoods, Victoria offers plenty of options to explore.