The prices in real estate in Bluff Hill, in the Hawkes Bay 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 Bluff Hill has had a strong decrease during the last 6 months. In November, the average price per m² was $4,556. In the following month the price per m² increased considerably to $6,204. The price for the following two months in (January, February) had a considerable decrease of 60 with regard to the prior two months. The price per m² has had a considerable deflation of 71 % 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 $4,298.25 to $3,052.5 during March, and April.
Based upon to the price in Bluff Hill (suburbs), this has fallen considerably in the last 6 months. The average price for November is $1,148,333. During December the price had a slight fall till $1,089,167. During the following two months (January, February) the average price had a considerable reduction of 34 % 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 $750,208.25 to $558,166.5, which means a 74 % fall.