Farm Report: Canadian Farmland Prices Reach Record Highs in 2014

The price of farmland in most Canadian markets has either held steady or increased this year, following a period of strong year-over-year growth. Mirroring the trend in residential and recreational property values, lower crop prices, floods and challenging winter weather conditions have failed to significantly impact the Canadian agricultural real estate market. There is significant variation in price and productive capacity of farmland across Canada. Macroeconomic factors impacted prices to a degree; however, practical considerations such as the proximity to a processing facility or prospective buyer’s existing operations drove individual transactions.

While prices across Ontario have started to level off, the value of farmland in some pockets rose significantly. North of the Greater Toronto Area, agricultural land slated for development reached $54,000 per acre. In Chatham-Kent, excellent soil quality boosted the price of farmland up to $25,000 per acre—representing a surge of as much as 40 per cent over the previous year.

Read the full Re/Max Farm Report 2014 > HERE! 

 
To learn more about local market conditions, or insight into prices for farmland, condos or houses in Whitby, Brooklin, Ajax, Pickering, Oshawa, or other areas within Durham Region, please contact me today.

Randy Miller

Broker  

Re/Max Rouge River Realty Ltd., Brokerage

905-668-1800 or 905-427-1400

randy@randymiller.ca

http://whitbybrooklinhomes.com/