The prices in real estate in Omori, in the Central North Island 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 Omori has had a strong decrease during the last 6 months. In November, the average price per m² was $6,809. In the following month the price per m² increased to $7,343. The price for the following two months in (January, February) had a considerable decrease of 61 with regard to the prior two months. The price per m² has had a considerable deflation of 71 % 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 $5,681.75 to $4,016 during March, and April.
Based upon to the price in Omori (suburbs), this has fallen considerably in the last 6 months. The average price for November is $1,293,333. During December the price had a slight fall till $1,185,000. During the following two months (January, February) the average price had a considerable reduction of 53 % 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 $950,416.5 to $605,833.5, which means a 64 % fall.