Average farmland value in Canada continued its steady climb in 2018, driven by fewer, but more strategic investments by producers.
The average value of Canadian farmland increased 6.6 per cent in 2018, following gains of 8.4 per cent in 2017 and 7.9 per cent in 2016, according to FCC’s 2018 Farmland Values Report.
In P.E.I, average farmland value increased by 4.2 per cent in 2018, following gains of 5.6 per cent in 2017 and 13.4 per cent in 2016.
In all provinces, except for Nova Scotia and Newfoundland and Labrador, average farmland values increased.
Quebec experienced the highest average increase at 8.3 per cent, followed by Saskatchewan and Alberta, both at 7.4 per cent, and British Columbia at 6.7 per cent.
The rest of the provinces were below the national average with P.E.I.’s average increase at 4.2 per cent, Manitoba at 3.7 per cent, Ontario at 3.6 per cent and New Brunswick at 1.8 per cent.
Nova Scotia recorded a decrease of 4.9 per cent in average farmland values, while Newfoundland and Labrador did not have enough publicly reported transactions to fully assess farmland values.
Although average farmland values have increased every year since 1993, recent increases are less pronounced than the 2011-2015 period that recorded significant average farmland value increases in many different regions.
FCC’s Farmland Values Report highlights average changes in farmland values – regionally, provincially and nationally.
This year’s report describes changes from Jan. 1 to Dec. 31, 2018 and provides a value range in terms of price per acre.
To view the 2018 FCC Farmland Values Report and historical data, visit fcc.ca/FarmlandValues.
To follow and participate in the discussion on farmland, visit the FCC Ag Economist blog post at fcc.ca/AgEconomics.
