Property prices for sale in Papanui (Canterbury)
The prices in real estate in Papanui, in the Canterbury 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 Papanui has had a strong decrease during the last 6 months. In November, the average price per m² was $6,147. In the following month the price per m² decreased considerably to $5,171. The price for the following two months in (January, February) had a considerable decrease of 56 with regard to the prior two months. The price per m² has had a considerable deflation of 59 % 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 $4,408.25 to $2,600.5 during March, and April.
Based upon to the price in Papanui (suburbs), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is $696,125. In December This price remains at $663,278. During the following two months (January, February) the average price fell 89 % 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 $640,788.25 to $373,833.5, which means a 58 % fall.
