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