The prices in real estate in New Plymouth, in the Taranaki region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in New Plymouth has had a strong decrease during the last 6 months. In September, the average price per m² was $2,994. In the following month the price per m² increased to $3,321. The price for the following two months in (November, December) had a considerable decrease of 71 with regard to the prior two months. The price per m² has decreased 85 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of $2,701.75 to $2,308.5 during January, and February.
Based upon to the price in New Plymouth (suburbs), this has gone downing the last 6 months. In our first sample month during September, the average price is $936,790. In October This price remains at $924,907. During the following two months (November, December) the average price fell 91 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $889,028.25 and $856,848 between January and February.