In 2013, agricultural land values continued to increase substantially over 2012 land values, with the average rate of increase across the 10 Counties being approximately 22%-25%. This rate of increase is very similar to the rate of increase on land values since 2010, when land values in Southwestern Ontario began to increase at historic levels. This 20%-30% per year increase since 2010 is extremely significant, given the long term increase in agricultural land values is generally in a range of 3%-7%. The Counties with the largest average annual increases since 2010 are Bruce County, Lambton County and Elgin County in a range of approximately 27%-38% per year.
The County Divisions with the largest average annual increases since 2010 are Elgin East, Huron North, and Lambton North in a range of approximately 32%-36%. Some of the highest per acre sales in 2013 were in a range of $20,000 to $25,000 per tillable acre.
The complete report on SouthWestern Ontario Land Values by Valco Consultants can be viewed here: http://www.valcoconsultants.com/20102013LandValuesStudy.pdf