The prices in real estate in Mayfield, in the Marlborough 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 Mayfield has had a strong decrease during the last 6 months. In November, the average price per m² was $3,972. In December this price pretty much remained the same at a value of $3,854 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 increased 113 % 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 $1,956.5 to $2,218 during March, and April.
Based upon to the price in Mayfield (suburbs), this has fallen considerably in the last 6 months. The average price for November is $579,250. During December the price had a slight fall till $519,400. 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 had a strong fall compared to the previous four going from $274,662.5 to $208,625, which means a 76 % fall.