The prices in real estate in Karamea, in the West Coast 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 Karamea has had a strong decrease during the last 6 months. In November, the average price per m² was $6,007. In the following month the price per m² decreased considerably to $4,960. The price for the following two months in (January, February) decreased 85 % with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of $5,082.5 to $5,133.5 during March y April
Based upon to the price in Karamea (suburbs), these have remained the same in the last 6 months. The average price for November is $652,667. During December the price had a slight fall till $613,625. During the following two months (January, February) the average price had a considerable increase of 120 % 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 $697,328.5 to $558,319.5, which means a 80 % fall.