The prices in real estate in Paroa, in the Oroua County 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 Paroa has had a strong decrease during the last 6 months. In November, the average price per m² was $3,238. In the following month the price per m² decreased to $3,036. The price for the following two months in (January, February) had a considerable decrease of 50 with regard to the prior two months. The price per m² has had a considerable increase of 150 % 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 $2,348.25 to $3,526 during March, and April.
Based upon to the price in Paroa (suburbs), this has gone downing the last 6 months. In our first sample month during November, the average price is $590,800. In December This price remains at $577,250. During the following two months (January, February) the average price had a considerable reduction of 53 % 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 155 % during the last two months.