The prices in real estate in Greta, in the Victoria 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 Greta has had a strong decrease during the last 6 months. In October, the average price per m² was $509. In November this price pretty much remained the same at a value of $509 per m². In the following two months the price per m² has barely changed, going from $509 to $487 per m². The price per m² has had a considerable deflation of 54 % 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 $498 to $269.5 during February, and March.
Based upon to the price in Greta (suburbs), this has gone up in the last 6 months. In our first sample month during October, the average price is $540,441. In November This price remains at $540,441. During the following two months (December, January) the average price had a considerable increase of 132 % 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 $626,214.25 to $452,833, which means a 72 % fall.