The prices in real estate in Banora Point, in the New South Wales 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 Banora Point has had a strong decrease during the last 6 months. In October, the average price per m² was $857. In the following month the price per m² decreased to $808. The price for the following two months in (December, January) had a considerable decrease of 48 with regard to the prior two months. The price per m² has increased 113 % 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 $616.5 to $695.5 during February, and March.
Based upon to the price in Banora Point (suburbs), this has fallen considerably in the last 6 months. The average price for October is $849,271. During November the price had a slight fall till $802,057. During the following two months (December, January) the average price had a considerable reduction of 53 % 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 $629,685 to $491,134, which means a 78 % fall.