Farmland Values Increase
By AllisonFinnamore
Farm Credit Canada
The average value of Canadian farmland increased 2.9 per cent during the first six months of 2009, reports Farm Credit Canada in its fall Farmland Values Report released earlier this week.
Twice a year since 1990, FCC appraises farm properties across the country and releases a report on its findings. Appraisers estimate market value using comparable sales.
Farmland values increased in most provinces with New Brunswick experiencing the highest increase at 5.6 per cent, followed by Manitoba with an increase of 5.5 per cent. Quebec and Nova Scotia also experienced similar percentage increases at 4.3 and 4.2 per cent respectively.
Saskatchewan farmland values continued to rise with a 3.4 per cent increase, followed by Ontario and Newfoundland and Labrador which each experienced an increase of 2.8 per cent.
Alberta had the smallest increase at 1.0 per cent while British Columbia and Prince Edward Island farmland values decreased by 0.7 and 1.4 per cent respectively.
Ontario
Ontario farmland values increased 2.8 per cent during the first six months of 2009. A stable to upward trend appeared to be consistent across the province, with small increases noted in both eastern and northern Ontario.
Factors contributing to the changes in land values were varied. Cash crops continued to show profitability due to increased demand from local ethanol plants for corn, increased global demand for basic grains and strong growth in the biofuels sector. Meanwhile large, intensive livestock enterprises continued to have strong demand for land to satisfy nutrient management program requirements.
Some land value increases in the area bordering Lake Huron occurred because of wind turbine contracts. Premium prices were paid for farmland parcels because of income generated by the contracts.
Workable land was still in demand by local livestock farmers and international buyers.
Peter Lass, Sales Representative
RE/MAX a-b Realty Ltd. Brokerage
Office: 519-536-7535 x268
Direct cell: 519-505-7290
Email: peterlass@sympatico.ca
www.peterlass.com
October 29, 2009
Beautiful 171 acre farm on Oxford Rd 29 - $1,199,000
*** SOLD ***
806778 Oxford County Rd 29, RR#1 Drumbo
Beautiful 171 acre farm on 2 separate but adjoining parcels. Features include 125 workable acres of sandy loam soil, 37 acres of mixed bush with pond, up-to-date 20 year old home, large 40' x 88' shed with 40' x 35' heated portion, second 18' x 35' heated shop and older style bank barn. This farm is provincially identified as a known aggregate resource. Imagine the possibilities!
Peter Lass, Sales Representative
RE/MAX a-b Realty Ltd. Brokerage
Office: 519-536-7535 x468
Direct cell: 519-505-7290
Email: peterlass@sympatico.ca
www.peterlass.com
October 12, 2009
Beautiful 100 acre farm on Oxford Rd 22 - $699,000
*** SOLD ***
816002 Oxford Rd 22, RR#1 Drumbo
100 acre farm with 63 acres of good quality sandy loam soil, over 30 acres of mixed bush under woodlot management and additional income from gas lease. Large well kept 75'x 38' shed with 28'x 38' heated portion. Up-to-date 1 1/2 storey 3-bedroom home with outdoor wood furnace. Good income opportunity.
Peter Lass, Sales Representative
RE/MAX a-b Realty Ltd. Brokerage
Office: 519-536-7535 x468
Direct cell: 519-505-7290
Email: peterlass@sympatico.ca
www.peterlass.com
Beautifully landscaped home in New Hamburg - $229,000
*** SOLD ***
43 Bleams Road West, New Hamburg
Enjoy this beautifully landscaped deep lot with this updated well built home. Features include etched glass windows and doors, walk out from basement to garage and lots of storage. Upgrades include furnace, wiring, bathrooms, upstairs and basement windows. A cozy, comfortable home for first time buyers or empty nesters.
Peter Lass, Sales Representative
RE/MAX a-b Realty Ltd. Brokerage
Office: 519-536-7535 x468
Direct cell: 519-505-7290
Email: peterlass@sympatico.ca
www.peterlass.com
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