The prices in real estate in Mount Victoria, in the Wellington region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Mount Victoria has remained the same in the last 6 months. In November, the average price per m² was $11,147. In December this price pretty much remained the same at a value of $11,487 per m². In the following two months the price per m² has barely changed, going from $11,317 to $11,637.5 per m². The price per m² has had a considerable deflation of 82 % 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 $11,477.25 to $9,449 during March, and April.
Based upon to the price in Mount Victoria (suburbs), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $1,657,000. During December the price went through a considerable rise reaching $2,157,000. During the following two months (January, February) the average price had a considerable increase of 135 % 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 $2,239,541.5 to $1,352,894.5, which means a 60 % fall.