The prices in real estate in Te Puru, in the Coromandel 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 Te Puru has had a strong decrease during the last 6 months. In November, the average price per m² was $7,429. In the following month the price per m² decreased to $6,606. The price for the following two months in (January, February) had a considerable decrease of 84 with regard to the prior two months. The price per m² has had a considerable deflation of 44 % 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 $6,441.75 to $2,846.5 during March, and April.
Based upon to the price in Te Puru (suburbs), this has fallen considerably in the last 6 months. The average price for November is $504,143. During December the price had a considerable reduction till $391,000. During the following two months (January, February) the average price had a considerable reduction of 84 % 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 $412,352.5 to $292,900, which means a 71 % fall.