The prices in real estate in Manakau, in the Manawatu-Whanganui 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 Manakau has had a strong decrease during the last 6 months. In November, the average price per m² was $9,687. In the following month the price per m² decreased considerably to $7,159. The price for the following two months in (January, February) had a considerable decrease of 42 with regard to the prior two months. The price per m² has had a considerable deflation of 51 % 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 $6,001.25 to $3,062 during March, and April.
Based upon to the price in Manakau (suburbs), this has fallen considerably in the last 6 months. The average price during our first sample month during November, is $868,333. During December the price went through a considerable rise reaching $1,074,600. During the following two months (January, February) the average price had a considerable reduction of 55 % 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 85 %, going from $754,383.25 to $641,400 in March and April.