Farm sale numbers recovered slightly in September, reversing months of decline.

Figures from the Real Estate Institute show the median price for the 12 dairy farms sold in the three months to September was just over $3.15m.

More encouraging was the average per hectare price, which jumped from $29,000 to $53,000.

Institute spokesperson Bryan Thomson says the September results could lead to better things.

“What it really means is the market’s at a level now where people are starting to feel confident about making decisions, and it could indicate as we move through spring, summer and into autumn those numbers will pick up."

Mr Thomson says a robust Fonterra payout of $6.70 will hopefully stimulate the market.

"If you look at the farming sector in general at the moment, from a cash flow and income basis, there are some really good indicators out there, the Fonterra one is the main thing that stands out.

"That’s another factor that should be adding to that confidence heading in to the selling season along with interest rates holding where they are.”

The median price for all farms sold in the three months to September was $1.012m, well up on the $877,500 of the same time last year.