The rent prices in real estate in Cromwell, in the Central Otago region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Cromwell has had a strong fall during the last 6 months. In November, the average price per m² was $2. In the following month the price per m² fell considerably to . The price for the following two months in (January, February) had a considerable fall of 46 with regard to the previous two months. The price per m² has had a considerable fall of 0 % 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 $0.73 to during March, and April.
When referring to the price in Cromwell (suburbs), there have hardly been any changes in the last 6 months. In our first sample month during November, the average price is $500. In December This price remains at $480. During the following two months (January, February) the average price had a considerable rise of 120 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 89 %, going from $540 to $479 in March and April.