Farm Credit Canada’s latest Farmland Values Report shows the average value of Canadian farmland increased 7.9% in 2016.

Saskatchewan farmland values increased by 7.5% last year.

Claude Jacques is a Senior Appraiser with Farm Credit Canada.

"It's quite a healthy increase and it's a good reflective of what's going on in the marketplace," Jacques said. "Some of the driver's that maybe the farmer seeds are maybe not the same level as they were back in 2012 and 2013, that may have been some rationale behind it. There is still a very positive increase and a pretty good indication of a pretty healthy agricultural industry."  

However, not all areas of the province saw increases in land prices.

In fact, some rural municipalities saw land prices trending downward, while other areas remained stable.

"Our analysis has changed a little bit to allow us to provide more of a regional area," Jacques added.   

Overall, The South West corner of the province saw the strongest increase in Saskatchewan at 16.6%, while the North West went up by 10.3%, the North East 9.3%, the West Central area increased by 7.8% while there was no increase in the East Central or South East corner of the province.