Land prices up by 10.7 per cent

 The average price paid for farmland in Ontario increased by 10.7 per cent last year. The previous year the increase was 19.4 per cent.

Across Canada, the increase was 11.5 per cent. Only British Columbia registered a decrease – 3.1 per cent – but its farmland prices remained the highest in Canada.

Demand for Ontario land came from a variety of sources, said the report from Farm Credit Canada, including large intensive, supply-managed farm operations, cash crop producers, part-time farmers and investors.

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