Fraser Valley farmland values see strong increase in 2022

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FCC estimates that receipts of grains, oilseeds, and pulses in Canada have increased by 18.3 per cent in 2022, and are projected to grow by 9.4 per cent in 2023. This increase in farm revenues is driving the demand for farmland, but higher borrowing costs and increased input prices are expected to lead to declines in the number of sales in 2023.

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The highest average provincial increases in farmland values were observed in Ontario, Prince Edward Island, and New Brunswick, with increases of 19.4 per cent, 18.7 per cent, and 17.1 per cent, respectively. Saskatchewan followed with a 14.2 per cent increase. Five provinces had average increases below the national average at 11.6 per cent in Nova Scotia, 11.2 per cent in Manitoba, 11.0 per cent in Quebec, and 10.0 per cent in Alberta. British Columbia is the only province to have recorded a single-digit increase at 8.0 per cent, but it is also a market where land values are the highest on average.

FCC is Canada’s leading agriculture and food lender, with a healthy loan portfolio of more than $47 billion. As a Crown corporation, it strives to provide an appropriate return to its shareholders and reinvest profits back into the industry and communities it serves.