The prices in real estate in Lake Tekapo, 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 Lake Tekapo has had a strong decrease during the last 6 months. In November, the average price per m² was $5,310. In the following month the price per m² increased considerably to $6,497. The price for the following two months in (January, February) had a considerable decrease of 35 with regard to the prior two months. The price per m² has had a considerable deflation of 46 % 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 $3,994 to $1,841 during March, and April.
Based upon to the price in Lake Tekapo (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $927,027. In December This price remains at $908,689. During the following two months (January, February) the average price had a considerable reduction of 82 % 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 $834,048 to $499,833.5, which means a 60 % fall.