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Farmland values rising in Ontario

It’s a good time to own farmland in our area.

According to Farm Credit Canada, average farmland values increased by 9.4 per cent last year, coming on the heels of gains 4.4 per cent in 2016 and 6.6 per cent in 2015 and making the province one of the leaders for average increases compared to the rest of the country.

Farm Credit Canada Senior Appraiser Dale Litt says there a number of reasons for the increase.

“Farm income has for the most part increased this year throughout the province and that’s one of the main drivers with respect to farmland values, and number two, historically farmland values are tied directly to interest rates.”

Litt adds it’s a good news story for those who own their property but it does present challenges for those looking to expand their operations or buy new land.

Casey Kenny
Casey Kenny
A graduate of the Broadcast Journalism Program at Loyalist College, Casey has worked in newsrooms across the country for 20 years. Stops along his radio adventure include Ottawa, Calgary, Vancouver, North Bay, Stratford and now Kemptville. Casey is also a veteran play-by-play announcer and is the Voice of the Kemptville 73's Hockey Team. A proud uncle of eight nieces and nephews, Casey is happy to call Kemptville home now.

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