The prices in real estate in Upper Moutere, in the Nelson Bays region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Upper Moutere has increased strongly during the last 6 months. In October, the average price per m² was . In the following month the price per m² increased considerably to $6,883. The price for the following two months in (December, January) had a considerable increment of 197 %. The price per m² has had a considerable deflation of 53 % 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 $5,109.5 to $2,705.5 during February, and March.
Based upon to the price in Upper Moutere (suburbs), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is . During November the price went through a considerable rise reaching $1,730,000. During the following two months (December, January) the average price had a considerable increase of 164 % 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 $1,142,770.75 to $478,500, which means a 42 % fall.