The prices in real estate in Maori Hill, in the Otago 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 Maori Hill has had a strong decrease during the last 6 months. In November, the average price per m² was $6,645. In the following month the price per m² decreased considerably to . The price for the following two months in (January, February) had a considerable increment of 118 %. The price per m² has decreased 92 % 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 $3,619 to $3,327 during March, and April.
Based upon to the price in Maori Hill (suburbs), this has fallen considerably in the last 6 months. The average price for November is $1,320,000. During December the price had a considerable reduction till . 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 $601,250 to $489,071.5, which means a 81 % fall.