The prices in real estate in Avenues, in the Bay Of Plenty 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 Avenues has had a strong decrease during the last 6 months. In November, the average price per m² was $6,852. In December this price pretty much remained the same at a value of $6,815 per m². The price for the following two months in (January, February) had a considerable decrease of 50 with regard to the prior two months. The price per m² has had a considerable deflation of 54 % 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 $5,135.5 to $2,782 during March, and April.
Based upon to the price in Avenues (suburbs), this has fallen considerably in the last 6 months. The price in November is $1,313,167, rising in December till $1,474,800. During the following two months (January, February) the average price had a considerable reduction of 39 % 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 $970,658.5 to $643,833.5, which means a 66 % fall.