The prices in real estate in Otautau, in the Southland 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 Otautau has had a strong decrease during the last 6 months. In November, the average price per m² was $3,442. In the following month the price per m² increased considerably to $4,110. The price for the following two months in (January, February) had a considerable decrease of 0 with regard to the prior two months. The price per m² has decreased 89 % 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 $1,888 to $1,672.5 during March, and April.
Based upon to the price in Otautau (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $385,833. In December This price remains at $376,000. During the following two months (January, February) the average price had a considerable reduction of 0 % with regard to the previous two months. 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 $190,458.25 and $189,833.5 between March and April.