Property prices for sale in Patea (Taranaki)
The prices in real estate in Patea, in the Taranaki 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 Patea has had a strong decrease during the last 6 months. In November, the average price per m² was $2,579. In December this price pretty much remained the same at a value of $2,643 per m². The price for the following two months in (January, February) decreased 91 % with regard to the prior two months. The price per m² has had a considerable deflation of 52 % 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 $2,496 to $1,285.5 during March, and April.
Based upon to the price in Patea (suburbs), this has fallen considerably in the last 6 months. The average price for November is $354,500. During December the price had a slight fall till $322,700. During the following two months (January, February) the average price fell 90 % 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 $321,561 to $153,666.5, which means a 48 % fall.
