The value of Ontario farmland continued to increase in 2011.
According to a report from Farm Credit Canada — the value of farmland in the province increased 6.6 per cent in the first half of this year. That followed increases of 2.4 per cent and 4.3 per cent in the two previous six month reporting periods in 2010.
Senior Appraiser Dale Litt tells Bayshore Broadcasting News this continues an upward trend in farmland value that began in
1993.
Litt says farmers are buying more land since interest rates are low and crop prices are high. He feels as long as crop prices remain strong — farmland values will increase.
But it’s not all good news. Litt notes it’s a challenge for the young farmer to get into the business and buy land when demand is so
high.
