Canadian farmland values up, but not as much as last year [Video]

Farmland is worth more, but the rate at which land values increased slowed in the first half of this year.

According to the mid-year farm values review by Farm Credit Canada (FCC), farmland values were up by an average of 5.5 percent from January to June 2024. The average from July 2023 to June 2024 was higher at 9.6 percent.

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“Farmland values increased at a slower rate, yet 5.5 per cent growth in six months is still a very strong number,” said J.P. Gervais, who is FCC’s chief economist, in a press release.

For two years now, Saskatchewan and Quebec had the highest average six-month increase in farmland values. Saskatchewan’s was 7.4 percent and Quebec’s was 5.4 percent. Manitoba’s was 3.9 percent.

The FCC said higher interest rates and lower commodity prices isn’t deterring some …