Farm land prices in Southwestern Saskatchewan factored in driving Saskatchewan prices above the national average.
Saskatchewan average farmland prices increased 7.4 per cent in 2018, compared with 6.6 per cent across Canada, according to the Farm Credit Canada annual farmland price survey.
In Southwestern Saskatchewan average prices increased 12.5 per cent as producers either paid premiums for strategic blocks or for land they plan on making more productive.
Prices in the southwest ranged between $800 and $2,700 an acre.
East Central Saskatchewan farmland prices increased 11.6 per cent within a range of $900 to $2,500 an acre.
With average increases of 1.7 per cent southeastern land prices increased the least, running between $800 and $3,400 an acre.
Northeastern farm land prices were up six per cent in a range of $900 to $2,600 while northwestern prices posted a 4.3 per cent increase between $600 and $3,300.
West-Central prices were up 3.2 per cent running from $600 to $3,300 an acre.
While Saskatchewan farmland price increases were three times consumer inflation, the rate of increase dropped substantially from 10.2 per cent in 2017.
Across Canada the average price increase fell from 8.4 per cent in 2017 to 6.6 per cent.
Land prices increased in every province except Nova Scotia.
Alberta land prices increased marginally by 7.4 per cent with a range of values between $1,000 an acre in the Peace River region to $14,000 in irrigated south.
Manitoba land prices increased 3.7 per cent compared with five per cent in 2017 with prices running from $600 an acre in the parkland region to $6,500 in the Pembina Valley.
Ontario prices were up 3.6 per cent compared with a 9.4 per cent boost in 2017. Prices ranged between $500 an acre in the north to $24,000 in the south central.
Quebec land prices increased marginally over 2017 by 8.3 per cent, running between $500 and $21,300 an acre.
Ron Walter can be reached at ronjoy@sasktel.net
