BC farmland values fell 3.1% last year, Farm Credit Canada reported this week, the first annual decline since 2010 and the most significant drop since 1998. The drop was led by the South Coast, where values fell 19.3% to average $112,200 an acre. This was more than four times the decline reported for the Okanagan, …
farmland values
BC farmland values flat
BC land values held the course in the first half of 2023, according to Farm Credit Canada, in an October 4 report on farm land values. The mid-year update indicated a cautious approach to land purchases and spending generally, which FCC chief economist JP Gervais credit with slower demand and, in turn, appreciation. “With higher …
Peace leads real estate
The first half of the year was a busy one for farm property transactions, with BC Ministry of Finance data released this month indicating an 88% increase in transaction volume to 975 deals. While the value of those properties isn’t disclosed, the regional breakdown was. According to the numbers, the Peace was both the most …
Kootenay farmland values surge
Kootenay farm properties led BC with the strongest increase in value last year, according to Farm Credit Canada, rising 28.1% versus a year ago to $15,300 an acre. “Buyers tended to be from outside the Kootenay region and larger urban centres, which created sudden and potentially short-term competition for land,” reported FCC in its annual …
Peace leads land deals
Provincial property transfer data indicates that sales of BC farm properties fell 11% in the first six months of the versus a year earlier. A total of 632 properties changed hands, with the Peace region being the most active. Northeastern BC saw 116 properties change hands during the first half of the year, or 18% …