The prices in real estate in Arrowtown, in the Central Otago 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 Arrowtown has had a strong decrease during the last 6 months. In October, the average price per m² was $11,719. In the following month the price per m² increased to $12,613. In the following two months the price per m² has barely changed, going from $12,166 to $12,109 per m². The price per m² has had a considerable deflation 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 $12,137.5 to during February, and March.
Based upon to the price in Arrowtown (suburbs), this has fallen considerably in the last 6 months. The average price during our first sample month during October, is $3,089,000. During November the price went through a considerable rise reaching $4,110,000. During the following two months (December, January) the average price had a considerable increase of 116 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $3,885,166.75 to , which means a 0 % fall.