The prices in real estate in Pascoe Vale, 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 Pascoe Vale has had a strong decrease during the last 6 months. In October, the average price per m² was $4,024. In the following month the price per m² increased considerably to $6,239. The price for the following two months in (December, January) had a considerable decrease of 55 with regard to the prior two months. The price per m² has had a considerable deflation of 30 % 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 $3,967.5 to $1,200 during February, and March.
Based upon to the price in Pascoe Vale (suburbs), this has gone downing the last 6 months. The average price during our first sample month during October, is $1,588,657. During November the price went through a considerable rise reaching $2,506,608. During the following two months (December, January) the average price had a considerable reduction of 70 % 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 $1,738,085.25 to $908,493, which means a 52 % fall.