The prices in real estate in Waimataitai, in the Canterbury 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 Waimataitai has had a strong decrease during the last 6 months. In November, the average price per m² was $4,541. In December this price pretty much remained the same at a value of $4,551 per m². The price for the following two months in (January, February) had a considerable decrease of 57 with regard to the prior two months. 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 $3,563.5 to $1,874 during March, and April.
Based upon to the price in Waimataitai (suburbs), this has fallen considerably in the last 6 months. The average price for November is $573,714. During December the price had a considerable reduction till $439,600. During the following two months (January, February) the average price had a considerable reduction of 49 % 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 $378,661.75 to $242,875, which means a 64 % fall.