But At A Slower Pace
Canadian farmland value rises again in 2023, finds report
Mar 12, 2024 | 4:40 PM
The average value of Canadian farmland rose again in 2023, albeit at a slower pace compared to 2022.
Farm Credit Canada’s latest Farmland Values report says the average value rose 11.5 per cent — slightly less than the 12.8 per cent from 2020 to 2022.
Chief economist JP Gervais said farmland prices continue increase at a rapid pace, even when economic conditions suggest the growth should slow.
The highest average provincial increases in farmland value was in Saskatchewan, at 15.7 per cent.