The prices in real estate in South Dunedin, in the Otago 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 South Dunedin has had a strong decrease during the last 6 months. In November, the average price per m² was $6,453. In the following month the price per m² decreased considerably to $5,445. The price for the following two months in (January, February) had a considerable decrease of 78 with regard to the prior two months. The price per m² has increased 109 % 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 $5,282 to $5,747 during March, and April.
Based upon to the price in South Dunedin (suburbs), this has fallen considerably in the last 6 months. The price in November is $717,429, rising in December till $788,222. During the following two months (January, February) the average price fell 86 % 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 $700,725.25 to $456,500, which means a 65 % fall.