The average value of land across the country has set a new record in terms of year over year increase, marking the second straight year a new high has been set.
In 2013, the national average land value rose by about 22 per cent breaking the record set in 2012 when land prices rose 19.5 per cent.
If it feels like we haven’t seen land price values go down in a long time, that’s because they haven’t. The last time we saw a decrease nationally was in 1992.
Leading the way last year was Saskatchewan where prices jumped a whopping 28.5 per cent, followed closely by Manitoba at 25.6 per cent and Quebec at 24.7 per cent.
Ontario and Alberta saw increases of 15.9% and 12.9% respectively, while the rest of the provinces saw single digit increases.
Rounding out the field: (Increase in average farmland value)
New Brunswick – 7.2%
Prince Edward Island – 4.4%
British Columbia – 3.0%
Nova Scotia – 1.9%
Newfoundland and Labrador – Unchanged from 2012
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