ONTARIO — Ontario farmland prices increased 4.7 per cent in 2020, according to Farm Credit Canada. But five Southwestern Ontario counties saw no increase in prices.
Essex, Lambton, Kent, Elgin and Middlesex counties recorded no farmland price increases over 2019, the FCC report said.
The average acre in that “Southern” area fetched $13,600. Top price was $20,000.
The annual farmland value report noted that farmland prices did not increase as much as in 2019, when prices across the province went up on average by 6.7 per cent.
FCC’s Mid-Western zone, that includes Simcoe, Grey and Bruce counties, saw price increases, an average of 8.9 per cent per acre last year. The average price was $11,200. Top price in the three counties was $20,300 per acre.
The “Central West” region, that includes Perth, Oxford, Wentworth, Peel and Waterloo, saw a price increase of 8.2 per cent last year. The average price of one acre of land in “Central West” was $19,600, topping out at $32,900.