Will the Wolverine mine closure impact Yukon real estate?

The closure of a Wolverine mine in southeast Yukon could have a ripple effect on future real estate investment in the region, but one expert says not to worry.

“Any time there is a mining closure a ripple effect is inevitable,” said Dean Philpott, a real estate investor, coach and speaker, based in the Yukon.

“That said, Yukon has proven over and over again that it remains in somewhat of a real estate bubble, even when the world around us is feeling the pain, and I have a feeling that this will be the case here now.”

Chinese-owned Yukon Zinc issued a press release on Tuesday saying it closed its operation north of Watson Lake, though it may re-open in several months. It said it will lay off around 140 employees, while another 80 positions filled by contractors will also be affected.

“I feel that this will be felt in what one may explain as ‘future Investing’ or a projection that just may not happen, but not on a scale that will even rock the boat to a degree of worry for current investors in the Yukon market,” said Philpott.

He added that the Yukon is currently experiencing more commercial building sales than have ever been recorded historically. “We are still rocking,” he said.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
West Wentworth, Saint-Adalbert, English Harbour, Essex, Debert


Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?