The prices in real estate in Newland, 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 Newland has had a strong decrease during the last 6 months. In November, the average price per m² was $12. In December this price pretty much remained the same at a value of $12 per m². In the following two months the price per m² has barely changed, going from $12 to $12 per m². The price per m² has had a considerable deflation of 54 % 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 $12 to $6.5 during March, and April.
Based upon to the price in Newland (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $472,647. In December This price remains at $452,238. In the following two months the average price has remained the same with regard to the previous two months from $462,442.5 to $441,294.5. During the last two months the average price has had a strong fall compared to the previous four going from $451,868.5 to $207,585.5, which means a 46 % fall.