The local real estate board (Vancouver Island Real Estate Board - VIREB) produce a buyers report and the following information is from that report. The report is based on 2018 numbers (the 2019 report is not out yet) but is a good indication of what is happening here.
The full report can be found at: http://www.vireb.com/assets/uploads/2018_buyer_profile_1840.pdf
There are 3 questions we commonly get asked by sellers:
1- Where are the buyers coming from?
2- What are they buying?
3- How are buyers becoming aware of properties?
You can see that the majority of buyers are coming from either Vancouver or Vancouver Island, are purchasing a single family (freehold) home as their principle residence and are using internet based searches to research homes for sale.
The report has much more information and has separate sections for the different areas on the Island so is well worth a read.