Canadian Farmland Values increase again in 2021

The 2021 FCC Farmland Values Report by Farm Credit Canada (FCC) has been recently published providing an overview of the development of Canadian farmland values over the years. This report, compiled annually, tracks average changes in farmland values on a provincial level. As such, the report provides a value indicator allowing for province-to-province and year-to-year comparison

This new report presents the evolution of land prices from January 1 to December 31, 2021. In comparison with 2020, farmland values increased on average 8.3% across Canada. The highest increase was reported for Ontario, where farmland values increased by 22.2% in comparison with 2020. British-Columbia followed with an increase of 18.1% over 2020 land values, and Prince-Edward-Island showed increases of 15.2%.

Read the complete report here.

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You want to dig deeper?

While the 2021 FCC Farmland Values Report provides the changes by  province in percentage points, the Historic FCC Farmland Values Report 1985-2021 provides additional in-depth information with prices per acre, starting from 1996 up to 2021.

The prices are listed by provincial (sub)territory: ex. for Ontario, prices for farmland are listed for 8 distinctive territories, including Central East Ontario, Central West Ontario, Eastern Ontario, Mid Western Ontario, Northern Ontario, South-East Ontario, South-West Ontario and Southern Ontario. The same applies to the other Canadian provinces, each of which is divided into several regions.

As such, the report publishes indicators allowing for region-to-region, year-to-year and price-per-acre comparison, thus providing an excellent basis for informed business decisions.

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Another source of information is the South-Western Ontario Land Values 2021 report compiling the evolution of prices/acre in regard to individual counties (ex. Huron County, Perth County, etc.) in this region of Ontario.