Canadian farmland values are still growing, but at a slower rate year-over-year, according to Farm Credit Canada’s most recent Farmland Values Report.
The average value of Canadian farmland increased by 5.2 per cent in 2019, compared to 6.6 per cent in 2019, and 8.4 per cent in 2017. While still positive, 2019 also marks five years of slowing growth in farmland values.
“The days of sharp increases in farmland values continue to be replaced by more modest growth,” says J.P. Gervais, FCC’s chief agricultural economist. “Changes in commodity prices, uncertainty around global trade, and some challenging weather conditions may be tapping the brakes on an otherwise healthy and robust Canadian agriculture industry.”
According to the report, Ontario, Quebec, and Saskatchewan reported average increases slightly above the national average at 6.7, 6.4 and 6.2 per cent, respectively, while British Columbia was closest to the national average at 5.4 per cent. Manitoba, Alberta and Nova Scotia had average increases below the national average at four, 3.3 and 1.2 per cent, respectively.
Read the full report, here.