Overall, Canadian farmland values increased by about 11.5 per cent in 2023, Farm Credit Canada’s (FCC) Farmland Values Report says.
All three Prairie provinces had increases.
Saskatchewan had the highest one – a 15.7 per cent jump from 2022.
“There remained a lack of available farmland to meet demand, resulting in higher market values,” FCC says in its report. “This demand occurred despite farm revenues constrained by a lack of moisture in many areas of the province.”