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BUSINESS OPINION – Country Life BC, Farm Credit Canada – High farmland values got even higher in BC in the first half of 2021

Fraser Valley – Country Life in BC is the agricultural news source for BC’s commercial farmers and ranchers.

High farmland values got even higher in BC in the first half of 2021, according to Farm Credit Canada, rising nearly 9% as hobby farmers battled commercial growers for rural properties.

While the same trend was seen in Quebec and Ontario, where values rose 11.5% over the same period, the increase made the country’s most expensive farmland even more so. “This is a significant increase considering that British Columbia has the highest land value per acre in Canada,” FCC says.

The South Coast region led the country with an average value of $100,800 per acre, though FCC’s dataset included sales up to $156,300 per acre.

FCC says ongoing low interest rates will support land values, but the impact of this summer’s drought remains to be seen.

Read the full article here.

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