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Manitoba farm land values slower to increase

A report by Farm Credit Canada states that Manitoba farm land values are increasing at a much slower rate than the other two prairie provinces.

According an article in the Winnipeg Free Press by Murray McNeil, Manitoba values only increased by an average of 4.3 percent in 2011, which is almost half of Alberta, which showed an average increase of 8.5 percent, and only one-fifth of the 21.7 percent that Saskatchewan gained.

"It’s also less than one third the Canadian average increase of 14.3 per cent," wrote McNeil, "and was the fourth smallest annual gain among the nine provinces that saw land values increase in 2011. The only province that didn’t was Newfoundland and Labrador, where values were unchanged from the previous year."

The report also states that Canadian land prices have been slowly rising due to low interest rates, higher commodity prices, rising farm incomes and a strong demand for land.

Winnipeg Free Press