The prices in real estate in North Shore, in the Auckland 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 North Shore has had a strong decrease during the last 6 months. In October, the average price per m² was $1,500. In November this price pretty much remained the same at a value of $1,451 per m². The price for the following two months in (December, January) decreased 87 % with regard to the prior two months. The price per m² has had a considerable deflation of 79 % 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 $1,377 to $1,091 during February, and March.
Based upon to the price in North Shore (suburbs), these have remained the same in the last 6 months. In our first sample month during October, the average price is $1,195,874. In November This price remains at $1,203,649. During the following two months (December, January) the average price fell 95 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $1,168,057.75 and $1,209,562.5 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $1,413,000 they are 58 % more affordable than the average price for North Shore. The properties with the highest average price have 4 bedrooms, Their price is 13 % more costly than the average. After that we have properties with 3 bedrooms priced at $1,222,896.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of $1,400 / m², with an average $1,008 / m² price in North Shore. The properties with the highest average prices have 1 bedroom. They are 91 % more expensive than the average followed by properties with 2 bedrooms with a price at $1,692 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of $1,413,000 it is 30 % cheaper than the average price in North Shore. "House" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Apartment". At a price of $989,705 it is 9 % more affordable than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of $1,431 / m² followed by "Apartment" priced at $1,535 / m². "Apartment" is the most costly type of property with a $1,535 / m² cost followed by "House" with an average price of $1,431 / m².