The prices in real estate in Hanmer Springs, in the Canterbury 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 Hanmer Springs has had a strong decrease during the last 6 months. In November, the average price per m² was $3,292. In the following month the price per m² decreased to $2,965. The price for the following two months in (January, February) had a considerable decrease of 31 with regard to the prior two months. The price per m² has had a considerable increase of 208 % 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 $2,054.75 to $4,268.5 during March, and April.
Based upon to the price in Hanmer Springs (suburbs), this has gone up in the last 6 months. The average price during our first sample month during November, is $1,031,941. During December the price went through a considerable rise reaching $1,591,375. During the following two months (January, February) the average price had a considerable reduction of 70 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from $1,113,728 to $1,008,830.5 in March and April.