The prices in real estate in Ferndale, in the Taranaki region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Ferndale has fallen in the last 6 months. In October, the average price per m² was $5,436. In the following month the price per m² increased to $6,178. In the following two months the price per m² has barely changed, going from $5,807 to $6,018 per m². The price per m² has had a considerable deflation of 48 % 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 $5,912.5 to $2,814 during February, and March.
Based upon to the price in Ferndale (suburbs), this has fallen considerably in the last 6 months. The average price during our first sample month during October, is $889,333. During November the price went through a considerable rise reaching $1,044,500. During the following two months (December, January) the average price had a considerable reduction of 73 % 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 $836,465 to $345,725, which means a 41 % fall.