Peak commodity values and low interest rates and limited inventory is pushing the price of farmland up dramatically across the country.
According to the RE/MAX Market Trends Report: Farm Edition 2013, the price of farmland in southwestern Manitoba rose by more than nine per cent in the last year from an average of $1,200-to-$1,500 per acre to $1,350-to-$1,600 per acre.
Irrigated land designated for specialty crops like potatoes is going as high $3,500 to $4,500 per acre.
Although the report said that there was a 16 per cent increase in land sales in southern Manitoba, it is still considered a seller’s market with plenty of demand.
Much of that interest in farmland is all about increasing current holdings, with 5,000-to-8,000 acre farms looking to grow even bigger.
The most expensive farmland in the country is in B.C.’s Fraser Valley where prices have remained steady over the past few years at between $40,000 and $60,000 per acre.