Yukon Mortgage Rates

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About Yukon

More About: Living In Yukon

Yukon is the smallest of the three Canadian Territories, with a population of about 40,000. Here are some more facts about the Yukon Territory:

  • Almost 75% of the population lives in the capital city of Whitehorse (population of about 30,000)
  • Around 25% of Yukon's population are Aboriginal
  • Gold, zinc and lead are mined in Yukon and account for roughly 30% of the economy
  • In Whitehorse, there is typically snow each month except July
  • There are only 27 hours of sunlight on average in December

5 Things You Need To Know About Buying In Yukon

  1. The average home price in the Yukon Territory is about $330,000 – that's roughly $60,000 cheaper than the national average
  2. Residential construction slowed in 2014, and existing home sales moderated throughout the year
  3. Expansions to mines in the Yukon Territories are expected to grow the territory's GDP and help to strengthen the economy, which means positive things for the housing market
  4. Yukon has low levels of migration, and in 2013 actually had negative net migration. This impacts local economies and markets
  5. Mortgage interest rates are expected to increase, as Canadian exports, investments, job growth and incomes improve. Once the economy is back to a comfortable, healthy place, we should see mortgage rates start to rise

Frequently Asked Question: Are there any additional costs to consider when thinking about buying in the Yukon?

Because of its remote location, goods and services are typically quite a bit more expensive in the Yukon since they need to be shipped in. Everyday items such as produce and bathroom supplies, for example, will end up costing you more than they would in other parts of Canada. Hydro is also something that can inflate your cost of living, since temperatures can dip so low and daylight hours are very short in some months of the year. It's also worth noting that because the Yukon is not easily accessible, transportation to and from the territory will cost a pretty penny.

Yukon Housing Statistics

The Yukon Territory is a fairly remote destination for potential home buyers, but many people are attracted to its access to wilderness and opportunity for a unique home experience.

Property Prices: Moderate Quality of Life Index: Moderate
Cost of Living: High Traffic Index: Low

Buying Property in the Yukon – Important Links

Thinking of buying a home in Yukon? Here are some important links to help you learn more about the province and get you started on your mortgage journey in the Yukon Territory:

Get Yukon regional housing statistics from the Canada Mortgage and Housing Corporation.

Ever wonder what everyday items will cost you in Yukon? You can compare the cost of living across Canada and around the world here.

Are you new to Canada? The Yukon offers a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.

Health care varies from province to province. Find out all you need to know about the Yukon health care system and how to qualify for coverage here.

Get up to speed on local politics – learn more about the Yukon government here.

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Blog: MoneyWise


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