The prices in real estate in Ongaonga, in the Hawkes Bay region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Ongaonga has increased strongly during the last 6 months. In November, the average price per m² was . In the following month the price per m² increased considerably to $5,933. The price for the following two months in (January, February) had a considerable increment of 193 %. The price per m² has had a considerable deflation of 45 % 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 $4,350.75 to $1,959 during March, and April.
Based upon to the price in Ongaonga (suburbs), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is . During December the price went through a considerable rise reaching $674,667. During the following two months (January, February) the average price had a considerable increase of 218 % 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 $536,979.25 to $357,250, which means a 67 % fall.