FCC report shows Canadian farmland values increased by 12.8 per cent
March 14, 2023 By Top Crop Manager
According to Farm Credit Canada’s annual Farmland Values Report, the average value of cultivated Canadian farmland increased by 12.8 per cent in 2022. This is the highest increase recorded since 2014 and follows gains of 8.3 per cent in 2021 and 5.4 per cent in 2020. This increase occurred amid strong farm income, elevated input prices and rising interest rates. The demand for farmland remained robust and the supply of farmland available for sale continued to be limited.
In Western Canada, B.C. saw an eight per cent increase, Alberta 10 per cent, Saskatchewan 14.2 per cent and Manitoba 11.2 per cent. Ontario saw the highest increase in farmland value at 19.4 per cent, Quebec at 11 per cent, New Brunswick 17.1 per cent and Nova Scotia at 11.6 per cent.
The FCC Farmland Values Report provides an annual look at the regional land value trends across Canada in price per acre. Visit fcc-fac.ca/en/knowledge/economics/farmland-values-report.html for the full report.