Canadian cultivated farmland values rose by an average of 6.0 per cent in the first half of 2025, according to the mid-year farmland values review by Farm Credit Canada (FCC).
This marks a modest acceleration compared to the first half of 2024, which saw a 5.5 per cent increase. Over the 12 months from July 2024 to June 2025, there was a 10.4 per cent increase, representing a slight increase compared to the previous 12-month period (January to December 2024) with a 9.3 per cent increase.
This growth reflects a complex mix of market forces and regional dynamics, with some provinces surging ahead while others remaining flat. Manitoba led the country with an 11.2 per cent increase, followed by New Brunswick (9.4 per cent) and Alberta (6.6 per cent). Saskatchewan matched the national average at 6.0 per cent, while Quebec (2.6 per cent), Prince Edward Island (2.3 per cent), and Nova Scotia (1.0 per cent) posted modest gains. Ontario and British Columbia recorded no change, highlighting the uneven nature of the market.
“Demand for farmland remained strong in the first half of the year regardless of lower commodity prices,” said J.P. Gervais, FCC’s chief economist. “Buyers continued to invest, driven by long-term confidence in the agriculture sector and the limited supply of available land. While growth is uneven across provinces, the overall trend points to promising growth opportunities in agriculture.”
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