The prices in real estate in Totara Park, in the Wellington 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 Totara Park has had a strong decrease during the last 6 months. In November, the average price per m² was $5,687. In the following month the price per m² increased to $6,335. The price for the following two months in (January, February) had a considerable decrease of 52 with regard to the prior two months. 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 $4,577 to during March, and April.
Based upon to the price in Totara Park (suburbs), this has fallen considerably in the last 6 months. The average price for November is $934,250. During December the price had a slight fall till $852,000. During the following two months (January, February) the average price had a considerable reduction of 48 % 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 $658,937.5 to , which means a 0 % fall.