Prince Edward Island
The average value of Prince Edward Island farmland increased 8.5%
in 2015, following gains of 9.3% in 2014 and 4.4% in 2013. Values
in the province have continued to rise since 2010.
Cultivated land increased in value in all areas of the province. The main
reason for the increases was farming enterprises wanting to gain
additional acres in order to supplement crop rotation cycles and for
additional feed production.
The large amount of land sold, and the prices obtained for it, placed
continued pressure on farmland values. Even land located in marginal
or outlying areas and parcels which were difficult to work or had an
inferior soil type increased in value.
Premium land attracted high competition and premium prices. Farming
enterprises actively seeking to expand their land holdings in order to
complement their rotation practices became willing and eager to pay
higher prices in order to obtain parcels that are closer to the home
farm.
In some instances, farm operators from other provinces sold their farm
holdings in their home province, and acquired whole farming units in
P.E.I. in order to take advantage of less expensive land prices.
