A significant drop in the price of dairy farms compared with the last year.

Latest figures from the Real Estate Institute show prices for the three months' ending September sit at around $25,000 per hectare.

That's down from $40,000 a hectare for the same time last year.

2015 has been a tough year for dairy farmers, as prices have plummeted for milk solids, although there has been signs of a recovery recently.

The REINZ said there's often low dairy farm sales during this time of year, making the median price per hectare more volatile.