FCC Mid-Year Report 2024 on Farmland Values in Canada


by admin October 22nd, 2024

FCC Mid-Year Report 2024 on Farmland Values in Canada

2024 mid-year Canadian farmland values have increased despite lower revenues and elevated interest rates.

According to the FCC / FAC mid-year report 2024 on #farmland #values, prices for Canadian cultivated farmland values rose by an average of 5.5% in the first half of 2024. For the second consecutive year, Saskatchewan and Quebec have recorded the highest average 6-month increases in the country, at 7.4% and 5.4%, Ontario, where FIAN manages several agricultural land investments, recorded a lower increase at 2.1%.

Provinces Average % change  Average % change  Average % change 
Jan. 2024 – June 2024 July 2023 – June 2024 Jan. 2023 – Dec. 2023
(6 months) (12 months) (12 months)
British Columbia 5 6.6 -3.1
Alberta 4.6 6.1 6.5
Sask. 7.4 12 15.7
Manitoba 3.9 9.6 11.1
Ontario 2.1 5.1 10.7
Quebec 5.4 8.2 13.3
New Brunswick 6.2 6.8 5.6
Nova Scotia 3.8 9.6 7.8
P.E.I. 1.7 3.4 7.4
CANADA 5.5 9.6 11.5

While the report shows a small national deceleration in the growth of farmland values, additional interest rate cuts anticipated until year-end might bring back more transactions and eventually higher prices for #agricultural #land.

Read on here: https://www.fcc-fac.ca/en/knowledge/economics/2024-farmland-values-mid-year-update

 

 

 

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