Farm Credit Canada has released its 2022 Farmland Values Report, and Manitoba saw an average increase of 11.2%.
The Parkland saw the smallest percentage change in the province at 7.5%, but FCC Appraiser Peter Alder says that doesn't necessarily tell the whole story. He says while looking at farmland values, it's good to consider average change over a few years.
"If you look at the average between last year and this year it evens out, it gives us a little bit of a better picture. The snapshot that we had last year was certainly indicative of above-average increases, and it led to the fact that this year when we captured all the sales, it wasn't that significant increase anymore."
Alder says that despite what the lower increase this year, demand was still strong for farmland in the region.
"So in the Parkland area, we have an average increase of 7.5 percent, with very strong increases in the Gilbert Plains area between Dauphin and Grandview, and on the west side between Roblin and Inglis as well, and the Swan River area we had some significant increases."
He says that even the areas in the region that didn't perform as well as others still saw good demand.
"A bit more steady in the Ste. Rose area and the Eddystone areas, but again, overall, strong demand for Farmland in the Parkland area as well."
The Farmland Values Report also breaks down the country by province and region with an interactive map that can be found here, and the full report can be found here.