It may be cooling somewhat, but farmland values continue to rise for most regions, according to an annual report issued by Farm Credit Canada or FCC.
The average value of farmland across Canada was up 7.9 per cent last year. That's down from 10.1 per cent in 2015, and 14.3 per cent in 2014.
In Saskatchewan, farmland values rose by 7.5 per cent. Regionally, within the province, the results varied greatly. In the southwest, prices jumped almost 17 per cent, while east central and southeastern farmland values posted no gain. FCC suggested that the downturn in the oil and gas sector is to blame for the stagnant results in those regions.
Saskatchewan's neighbouring provinces had a stronger year in 2016. Alberta farmland values jumped 9.5 per cent, while Manitoba saw an 8.1 per cent increase.