The prices in real estate in Omarama, in the Otago 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 Omarama has had a strong decrease during the last 6 months. In November, the average price per m² was $5,685. In the following month the price per m² decreased considerably to . In the following two months the price per m² has increased 105 %, going from $2,842.5 to $2,987.5 per m². The price per m² has had a considerable increase of 184 % 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 $2,915 to $5,356.5 during March, and April.
Based upon to the price in Omarama (suburbs), this has fallen considerably in the last 6 months. The average price for November is $1,047,600. During December the price had a considerable reduction till . In the following two months the average price has remained the same with regard to the previous two months from $523,800 to $549,000. Based on an analysis of the first four prices and the last two months the average price has risen strongly 194 % during the last two months.