The value of agricultural land increased by 6.1% in 2019, while that of cultivated land traded increased by 6.8%, according to a bulletin from the Financière agricole du Québec, published Tuesday.
Farmland traded on average at $ 17,707 / ha, or $ 1,022 more per hectare, compared to 2018.
The average unit value of cultivated land transacted has also increased, rising from $ 22,694 / ha in 2018 to $ 24,237 / ha the following year.
The land with the highest value was located in the Montérégie, Lanaudière and Laurentides regions.
In Abitibi-Témiscamingue, farmland prices soared 61%, while the value of cultivated land rose significantly by 39% in the Capitale-Nationale in 2019.
In contrast, in the Chaudière-Appalaches, Saguenay-Lac-Saint-Jean and Mauricie regions, the variation did not exceed 5% in 2019.
Bas-Saint-Laurent and Montérégie-Ouest saw the average transaction values decrease slightly or remain stable, notes the report of the Financière agricole.
The annual differences observed are also very variable according to the regions, differences supported by several factors conditioning supply and demand.
“Although certain regions such as Abitibi-Témiscamingue, the Laurentians and Chaudière-Appalaches Sud have experienced significant increases, the Bas-Saint-Laurent region has suffered a 13% drop from 2018 to 2019 », We observed.
The drop in the price of farmland in the Bas-Saint-Laurent is explained by a decrease in transactions compiled near the river which, historically, has higher values.