The prices in real estate in Normanby, in the Taranaki region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Normanby has fallen in the last 6 months. In November, the average price per m² was $3,628. In the following month the price per m² increased to $4,027. In the following two months the price per m² has increased 106 %, going from $3,827.5 to $4,046 per m². The price per m² has had a considerable deflation of 52 % 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 $3,936.75 to $2,047.5 during March, and April.
Based upon to the price in Normanby (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $612,750. In December This price remains at $590,429. During the following two months (January, February) the average price fell 90 % 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 $572,961.25 to $387,125, which means a 68 % fall.