Farm Credit Canada released its 2019 Farmland Value Report this week.
The average value for Canadian farmland increased by 5.2 per cent in 2019, while farmland values in Manitoba increased by 4 per cent and 3.3% in Alberta.
Amber Tuplin, a Senior Appraisor with FCC, says in Saskatchewan, farmland values showed a slight increase over the national level at 6.2 per cent.
“In the Southwest, we saw an increase of 3.8% and this was due to the supply of land exceeded demand in this region. As well as we saw a large producers appeared less aggressive in purchasing land in this in this area than previous years. The Southeast increased 6%, there is more demand for land which exceeded the supply in this region. East Central exceeded 9.2% and they had a lot of demand and supply and a lot of out of province producers were purchasing land in this area. West Central increased 5.9% and this was more on the eastern side of this region, and there was more supply of land on this side of the of this region. The North East increased 7.1% and North West increased 6%. They had the same a lot of demand and a lot of supply of land.”
She notes average land prices in the Southwest ranged from $900 to $2900 an acre, the Southeast $900 to $3600, the Northeast $900 to 2800, while in the West Central area land prices ranged from $1000 to $3900 an acre.
She notes it's important to remember there can always be exceptions to the numbers.
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