The average value of Canadian farmland increased 3.0% during the first six months of 2010, following increases of 3.6% and 2.9% in the previous two reporting periods, according to Farm Credit Canada's Fall 2010 Farmland Values report.
FCC's report covers the period from Jan. 1 to June 30, 2010. Farmland values remained stable or increased in all provinces except British Columbia, which saw a 0.9% decrease. Ontario experienced the highest average increase at 4.3%, followed by Manitoba at 3.4% and Nova Scotia at 3.1%.
Saskatchewan and Alberta each saw 2.9% growth. Quebec (2.3%) and Newfoundland and Labrador (0.7%) rounded out the list of provinces that experienced a rise in farmland values.
Values were unchanged in New Brunswick and Prince Edward Island.
Twice a year the FCC compiles and releases the Farmland Values Report, which highlights average changes in land values in each province and nationally. A report is released in the spring, describing changes from July 1 to Dec. 31. A second report, released in the fall, identifies changes from Jan. 1 to June 30.
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