Farmland values creep up in BC
No specific values were assigned to farmland but Farm Credit says B.C. agricultural land, on average, was up 3 per cent in 2013.
That follows increases of point one per cent in 2012 and point 2 per cent in 2011.
The increases pale in comparison to the prairies, where, in Saskatchewan, for example farm land values are up more than 28 per cent.
FCC’s senior appraiser, Bill Wiebe says it’s a reflection of the economics and commodities in B.C. have stabilized or had some reductions.
In the Cowichan Valley there are almost 33 thousand hectares of land that could be used to grow crops and of this, more than 94 hundred hectares is considered prime agricultural land.
The bulk of the farmland in B.C. is in the lower mainland and there’s a large tract of farmland in the northeast.