The prices in real estate in Glenorchy, 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 Glenorchy has had a strong decrease during the last 6 months. In November, the average price per m² was $8,048. In December this price pretty much remained the same at a value of $8,048 per m². The price for the following two months in (January, February) had a considerable decrease of 0 with regard to the prior two months. The price per m² has had a considerable increase of 196 % 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 $4,024 to $7,876.5 during March, and April.
Based upon to the price in Glenorchy (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $1,188,833. In December This price remains at $1,188,833. During the following two months (January, February) the average price had a considerable reduction of 0 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 208 % during the last two months.