The prices in real estate in Maungakaramea, in the Oroua County 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 Maungakaramea has had a strong decrease during the last 6 months. In November, the average price per m² was $6,217. In December this price pretty much remained the same at a value of $6,217 per m². The price for the following two months in (January, February) had a considerable decrease of 0 with regard to the prior two months. The price per m² has decreased 90 % 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 $3,108.5 to $2,786.5 during March, and April.
Based upon to the price in Maungakaramea (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $747,500. In December This price remains at $747,500. During the following two months (January, February) the average price had a considerable reduction of 0 % 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 87 %, going from $373,750 to $323,600 in March and April.