The prices in real estate in Orakei, 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 Orakei has had a strong decrease during the last 6 months. In November, the average price per m² was $12,571. In the following month the price per m² decreased considerably to $9,929. The price for the following two months in (January, February) decreased 85 % with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of $10,417.75 to $10,730.5 during March y April
Based upon to the price in Orakei (suburbs), this has gone downing the last 6 months. The average price for November is $2,377,400. During December the price had a slight fall till $2,042,000. During the following two months (January, February) the average price had a considerable reduction of 80 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 143 % during the last two months.