The prices in real estate in Otatara, in the Southland region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Otatara has increased during the last 6 months. In November, the average price per m² was $3,717. In December this price pretty much remained the same at a value of $3,650 per m². In the following two months the price per m² has increased 113 %, going from $3,683.5 to $4,159.5 per m². The price per m² has had a considerable increase of 117 % 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 $3,921.5 to $4,587.5 during March, and April.
Based upon to the price in Otatara (suburbs), these have remained the same in the last 6 months. In our first sample month during November, the average price is $763,786. In December This price remains at $735,444. In the following two months the average price has remained the same with regard to the previous two months from $749,615 to $747,207. 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 $748,411 and $765,759 between March and April.