April 14, 2008, Guelph, Ont. – The
average value of farmland in Ontario increased by 1.2 per cent in the
second half of 2007, according to Farm Credit Canada (FCC) research.
April 14, 2008, Guelph, Ont. – The average value of farmland in Ontario increased by 1.2 per cent in the second half of 2007, according to Farm Credit Canada (FCC) research.
FCC recently released its Spring 2008 Farmland Values Report, which provides information about the changes in land values across Canada twice a year.
“Canada’s farmland values are reflective of our national agriculture trends,” says Rémi Lemoine, FCC senior vice-president of portfolio and credit risk. “High land prices in Western Canada are being driven by factors including strong grain and oilseed sectors while challenges in the hog and beef sectors in Central and Atlantic Canada are resulting in smaller increases.
“We’re also seeing more competition in terms of farmland buyers, who range from foreign and domestic investors, urban buyers, absentee landowners and traditional producers.”
In the last three semi-annual reporting periods, farmland values in Ontario have increased by 1.7 per cent in the last half of 2006, 2.7 per cent in the first half of 2007 and now 1.2 per cent in the last six months of 2007.
Overall, Canadian land values increased by 7.7 per cent in the last six months of 2007. This increase is consistent with Canada’s growth trend since 2000.
The complete Farmland Values Report is available at www.FarmlandValues.ca .
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