The prices in real estate in Porangahau, in the Hawkes Bay 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 Porangahau has had a strong decrease during the last 6 months. In October, the average price per m² was $4,213. In the following month the price per m² increased to $4,680. The price for the following two months in (December, January) had a considerable increment of 123 %. The price per m² has had a considerable deflation of 0 % 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 $4,949.75 to during February, and March.
Based upon to the price in Porangahau (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $534,143. In November This price remains at $529,857. In the following two months the average price has remained the same with regard to the previous two months from $532,000 to $510,983.5. During the last two months the average price has had a strong fall compared to the previous four going from $521,491.75 to , which means a 0 % fall.