The prices in real estate in Larrakeyah, in the Northern Territory 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 Larrakeyah has increased strongly during the last 6 months. In October, the average price per m² was $487. In November this price pretty much remained the same at a value of $471 per m². In the following two months the price per m² has barely changed, going from $479 to $492 per m². The price per m² has had a considerable increase of 528 % 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 $485.5 to $2,561.5 during February, and March.
Based upon to the price in Larrakeyah (suburbs), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is $420,350. In November This price remains at $409,969. During the following two months (December, January) the average price fell 94 % 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 $401,931.5 to $270,000, which means a 67 % fall.