Limited availability pushes southeast farmland prices higher

A lack of available farmland for sale is continuing to push land values higher, according to the mid-year farmland values review by Farm Credit Canada (FCC). In the first six months of 2023, the national average growth rate of farmland was 7.7 per cent.

The highest farmland value increases over the last six months were reported in Saskatchewan (11.4 per cent) and Quebec (10.6 per cent). Ontario and Manitoba saw nearly identical increases, with farmland values in Ontario increasing by 6.9 per cent, and Manitoba by 6.4 per cent.