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Report: Northern Ontario farm values rise, British Columbia’s fall modestly

March 25, 2024  By Drainage Contractor

Farm Credit Canada has released its annual farmland values report for all of Canada’s provinces.

Besides British Columbia, farmland values have generally risen across Canada; in B.C., values fell an average of 3.1 percent year-over-year. That was driven largely by a 19.1 percent drop in dollars-per-acre in the southcoast region. However, this region still represents some of B.C.’s most high-value farmland, at an average of $112,000 per acre and ranging from just over $29,000 to just under $265,000. By contrast, Alberta saw modest gains (6.5 percent province-wide), but its farm values top out at $11,800 per acre in the south region.

The largest rise came from Saskatchewan, where farm values fore by more than 15 percent. All Saskatchewans’ regions rose, with the east central and northeastern regions’ values rising by around 20 percent each. The northeastern region is the most valuable farm region in Saskatchewan, at an average of $3,600 per acre, and topping out at $5,100.

Saskatchewan, Manitoba, Ontario and Quebec all boasted increases in the two-digit percentages. Ontario’s northern region, famous for long winters and tough-to-drain, clay soils, saw a rise in value of 8.9 percent, at an average of $4,800 per acre and topping out at $9,500 per acre. However, the southern part of the province is generally far more lucrative, with the southwest region boasting the highest per-acre value in the province, topping out at $41,700 and an average of $32,700.


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