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Momentum continues

Farmland values increase on the Prairies

Oct 9, 2026 | 3:18 PM

Canadian cultivated farmland values rose by an average of 3.8 per cent in the first half of 2026, according to the mid-year farmland values review by Farm Credit Canada (FCC).  

It’s down from a 6.0 per cent increase in the first half of 2025. Over the 12 months from July 2025 to June 2026, farmland values rose 7.0 per cent, compared with 9.3 per cent from January to December 2025.  

FCC’s chief economist Craig Johnston said the pace of growth has eased from last year, but Canadian farmland values continue to show resilience.  

“Higher production costs, tighter margins and uncertainty around trade, tariffs and international markets are contributing to a more cautious and selective market,” Johnston said.  

Farmland values continue to rise overall, but trends are increasingly regional, selective, and tied to the economics of individual farm operations.  

Prince Edward Island recorded the strongest increase in the first half of 2026 at 11.9 per cent, followed by Quebec at 6.2 per cent, Alberta and Manitoba at 5.3 per cent, and Nova Scotia at 3.6 per cent. Saskatchewan rose 2.6 per cent, Ontario 2.4 per cent and New Brunswick 2.1 per cent, while British Columbia recorded a 1.9 per cent decline.  

The review compares current growth with the latest upward cycle, which began in 2020, and shows farmland values have not peaked at the same time across Canada. Growth momentum has shifted from provinces that led the post-pandemic surge toward the Prairies, particularly Alberta, while Ontario and British Columbia have seen the sharpest normalization.  

“Prairie farmland market growth preceded a difficult harvest season that has been marked by adverse weather and surging diesel prices,” Johnston said. “Final crop quality and yields will shape the land market this fall and into next year.”  

The mid-year update provides an early outlook on farmland value trends. FCC’s full-year assessment is expected in the spring report. 

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alice.mcfarlane@pattisonmedia.com

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