Location: 113 3rd Avenue West Biggar, Saskatchewan
Mailing Address: P.O. Box 1054 Biggar, Saskatchewan S0K 0M0
FCC Farmland Values Report -- Spring 2013
Regina, Saskatchewan, April 15, 2013 – According to a new Farm Credit Canada (FCC) Farmland Values Report,
the average value of farmland in Saskatchewan increased by 9.7% during the 2nd half of 2012.
In the second half of 2012, farmland values in Saskatchewan increased an average of 9.7%, following a similar increase of 9.1% in the first half of the year. This followed a gain of 10.1% in the previous reporting period, continuing a trend of price increases that began in 2002.
Most increases occurred in areas that had previously experienced flooding and had, as a result, seen few changes in the past two years. While the strong demand for high-quality, clay-based land continued, prices for this type of land tended to remain stable over the reporting period. The price of lower-valued land experienced a greater increase during the current reporting period.
Interest from out-of-province buyers continued. Some retiring farmers sold large blocks of land to take advantage of the strong prices to sell their entire operation.
Throughout Saskatchewan, many of the land sales weren’t advertised. Landowners who rented out their property continued the trend of selling privately to their tenants.