The prices in real estate in Maungaturoto, in the Northland region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Maungaturoto has increased strongly during the last 6 months. In November, the average price per m² was $4,976. In the following month the price per m² increased to $5,549. The price for the following two months in (January, February) had a considerable increment of 119 %. The price per m² has increased 112 % 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 $5,755.25 to $6,463.5 during March, and April.
Based upon to the price in Maungaturoto (suburbs), these have remained the same in the last 6 months. In our first sample month during November, the average price is $889,500. In December This price remains at $913,000. In the following two months the average price has remained the same with regard to the previous two months from $901,250 to $930,752.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from $916,001.25 to $819,947.5 in March and April.