Source: Meredith MacLeod, CTVNews.ca, May 16, 2018
The average price of farmland in Canada has more than doubled in the last 10 years, leading to concerns about the future of agriculture in this country as a large group of farmers retires over the next decade.
Farmland prices have increased nationally by 132 per cent since 2007, according to data from Farm Credit Canada (FCC). In 2017, the highest hikes came in Saskatchewan (10.2 per cent), Nova Scotia (9.5 per cent) and Ontario (9.4 per cent).
Based on Statistics Canada data on average price per acre and farm size, the average farm in Canada goes for $2.2 million. In Ontario, that’s $2.6 million and in Saskatchewan it’s $2.1 million.
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