Home Crop Monitoring Average value of Canadian farmland ticked up 5.4% last year

Average value of Canadian farmland ticked up 5.4% last year

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Farmland in British Columbia and Quebec elevated in value essentially the most in 2020, with Alberta rounding out the highest three, based on Farm Credit score Canada’s annual farmland value report.

Regardless of COVID-19, on common, Canadian farmland elevated by 5.4 per cent, following a just-slightly decrease 2019 value of 5.2 per cent progress.

Land in British Columbia and Quebec grew by 8 per cent and seven.3 per cent, respectively. Alberta confirmed a rise of 6 per cent and Saskatchewan hit 5.4 per cent. Ontario and Manitoba each reported will increase that have been decrease than the nationwide common at 4.7 per cent and three.6 per cent, respectively.

The Maritime provinces noticed the smallest will increase in farmland values for 2020, with a median improve of 2.3 per cent for Prince Edward Island, 1.6 per cent for Nova Scotia and 1.3 per cent for New Brunswick. There was inadequate public knowledge for Newfoundland and Labrador.

Hear in to a dialog between JP Gervais and Shaun Haney to listen to extra in regards to the methodology behind the report, and extra. Story continues under the interview.

The report confirmed a noticeably decrease quantity of gross sales in early 2020, principally in April and Could, nevertheless, the overall quantity of gross sales for your complete year was like these of the previous few years. “Despite a challenging global economic environment, commodity prices increased considerably in the last half of 2020 for many crops, and interest rates have reached historic lows,” the abstract reads.

Farmland value progress, 2020. Farm Credit score Canada.

Put into context of the last 10 years, that is the fifth year of single digit progress in farmland values. Out of the last decade, values jumped essentially the most in 2013 — a staggering 22.1 per cent.

Learn the complete report, right here.

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