The average value of Canadian farmland continued its steady climb in 2025, increasing by 9.3 per cent, according to the latest FCC Farmland Values Report. The Prairie provinces drove much of the year’s average increase, while the Maritimes followed with continued growth. In contrast, Ontario and Québec’s increase in average values eased from the stronger gains recorded in previous years.

In Ontario, average cultivated farmland values increased by 2.2 per cent in 2025. This modest increase followed a 3.1 per cent increase in 2024 and a 10.7 per cent increase in 2023.

Manitoba recorded the largest average farmland value increase at 12.2 per cent, followed by Alberta at 11.4 per cent and Saskatchewan at 9.4 per cent. In Atlantic Canada, New Brunswick showed a 9.1 per cent gain and Prince Edward Island rose by 8.5 per cent, while Nova Scotia recorded a more modest 1.6 per cent increase. Farmland values in Québec increased by 4.8 per cent, reflecting steady demand across a diverse agricultural base, while Ontario saw a slower pace of growth at 2.2 per cent following several years of stronger gains. Four provinces reported higher growth rates in 2025 than 2024: Alberta, Manitoba, New Brunswick and Prince Edward Island.

British Columbia recorded a decline in the average value of 1.7 per cent, yet the province has the highest farmland values on average. There were insufficient publicly reported sales in Newfoundland and Labrador, Northwest Territories, Nunavut and Yukon to fully assess changes in farmland values in those regions.

“Demand for farmland remained robust, supported by long-term confidence in Canadian agriculture, lower borrowing costs, strong livestock prices and the limited supply of land available for sale,” said J.P. Gervais, ag production executive vice-president at FCC. “The ongoing uncertainties related to trade and tariffs, high input costs and low commodity prices did not deter buyers’ interest in farmland. These factors combined with varying local market conditions will influence future trends in farmland affordability.”

For more information and insights, visit fcc.ca/Economics.

Source:  Farm Credit Canada March 24, 2026 news release