The prices in real estate in Kelburn, in the Wellington 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 Kelburn has fallen in the last 6 months. In November, the average price per m² was $8,858. In December this price pretty much remained the same at a value of $9,082 per m². The price for the following two months in (January, February) decreased 91 % with regard to the prior two months. The price per m² has had a considerable deflation of 80 % 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 $8,561.75 to $6,864.5 during March, and April.
Based upon to the price in Kelburn (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $1,742,500. In December This price remains at $1,798,125. During the following two months (January, February) the average price had a considerable reduction of 62 % 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 $1,434,791.75 to $894,798, which means a 62 % fall.