The prices in real estate in The Brook, in the Nelson Bays 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 The Brook has had a strong decrease during the last 6 months. In November, the average price per m² was $7,248. In the following month the price per m² decreased to $6,212. The price for the following two months in (January, February) decreased 89 % 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 $6,355.25 to $2,819.5 during March, and April.
Based upon to the price in The Brook (suburbs), this has gone downing the last 6 months. The price in November is $596,000, rising in December till $649,000. During the following two months (January, February) the price has had an average incrementation from $622,500 to $656,916.5. During the last two months the average price has had a strong fall compared to the previous four going from $639,708.25 to $316,143, which means a 49 % fall.