Cultivated farmland values across Canada kept pace with inflation in 2022 with an average 12.2 per cent increase.
The annual Farm Credit Canada farmland values report notes the increase came “amid strong farm income, elevated input prices and rising interest rates.
“The demand for farmland remained robust and the supply of farmland available for sale continued to be strong.”
The report says farmland values usually take time to adjust to economic changes but record prices for most field crops maintained robust demand.
Saskatchewan farmland prices averaged 14.2 per cent increase last year with variation by region up to 50 per cent.
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