The selling price of Canadian farmland grew by 11.3% last year.<\/p>\n
BC was the only province where farmland values dropped and they fell by 3.1%.<\/p>\n
There was a limited supply of irrigated farmland for sale in the Thompson-Nicola region and prices there were stable, according to report released by Farm Credit Canada, March 12.<\/p>\n
The picture was much worse in the Okanagan.<\/p>\n
“An influx of buyers from other regions bought properties in the Okanagan area, so demand remained strong,” the report said. “Yet, these factors did not prevent the Okanagan region from registering an average decrease in values of 4.5%.”<\/p>\n
The report said BC has the highest farmland prices in the country, led by the South Coast at $112,200 per acre.<\/p>\n
Okanagan farm land averaged $32,500 per acre, while prices in the Thompson-Nicola region averaged $24,100 per acre.<\/p>\n
On the positive side for sellers, pastureland in the Thompson-Nicola region increased in price by 3%. No mention was made in the report about pastureland in the Okanagan.<\/p>\n
READ MORE:<\/strong> Why Kelowna pays way over assessed value for land it buys<\/a><\/p>\n The BC decline in farmland prices comes after a decade of increases with the highest in 2021 at 18.1%.<\/p>\n Canada has also seen farmland prices go up each year for the past decade with this year’s 11.5% rise falling just short of last year’s 12.8%.<\/p>\n The biggest increases nationally were in Saskatchewan at 15.7% and Quebec at 13.3%.<\/p>\n In BC, the South Coast saw the largest drop of 19.3%, while the Cariboo-Chilcotin saw an 8% increase.<\/p>\n The full report can be seen here.<\/a><\/p>\n To contact a reporter for this story, <\/span>email Rob Munro<\/a> or call 250-808-0143 or <\/span>email the editor<\/a>. You can also submit<\/span>photos, videos or news tips to the newsroom<\/a> and be entered to win a monthly prize draw.<\/span><\/p>\n We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The selling price of Canadian farmland grew by 11.3% last year. BC was the only province where farmland values dropped and they fell by 3.1%. There was a limited supply of irrigated farmland for sale in the Thompson-Nicola region and prices there were stable, according to report released by Farm Credit Canada, March 12. The […]<\/p>\n","protected":false},"author":473,"featured_media":1314,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"iNFOnews","byline":"Rob Munro","published":"2024-03-14T05:02:02","updated":"2024-03-14T12:00:00","_infotelid":"IT103737","_prepressid":"103737","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[705,2,706,704],"tags":[174,847,12,587,848,80],"region":[547,548,549,550],"class_list":["post-1315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlight","category-inwine","category-local","category-topnews","tag-agriculture","tag-farmland","tag-kelowna-news","tag-klmar2024","tag-prices","tag-rob-munro","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/inwine\/news\/1315\/farmland-values-drop-in-okanagan-and-stay-flat-thompson-nicola-report\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Farmland values drop in Okanagan and stay flat Thompson-Nicola: report","url":"http:\/\/infonews.ca\/inwine\/news\/1315\/farmland-values-drop-in-okanagan-and-stay-flat-thompson-nicola-report\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/inwine\/news\/1315\/farmland-values-drop-in-okanagan-and-stay-flat-thompson-nicola-report\/"},"thumbnailUrl":"https:\/\/infonews.ca\/inwine\/wp-content\/uploads\/sites\/2\/MediaItemID29509-3701.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/inwine\/wp-content\/uploads\/sites\/2\/MediaItemID29509-3701.jpg"},"articleSection":"highlight","author":[{"@type":"Person","name":"Rob Munro"}],"creator":["Rob Munro"],"publisher":{"@type":"Organization","name":"iNwine","logo":"https:\/\/infonews.ca\/inwine\/wp-content\/uploads\/sites\/2\/2024\/06\/logo-inwine.png"},"keywords":["agriculture","farmland","kelowna news","klmar2024","prices","rob munro"],"dateCreated":"2024-03-14T12:02:02Z","datePublished":"2024-03-14T12:02:02Z","dateModified":"2024-03-14T19:00:00Z"},"rendered":"
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