The prices in real estate in Toormina, 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 Toormina has had a strong decrease during the last 6 months. In March, the average price per m² was $1,027. In the following month the price per m² decreased to $972. In the following two months the price per m² has barely changed, going from $999.5 to $1,035 per m². The price per m² has had a considerable deflation of 0 % 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 $1,017.25 to during July, and August.
Based upon to the price in Toormina (suburbs), this has fallen considerably in the last 6 months. In our first sample month during March, the average price is $507,393. In April This price remains at $517,750. During the following two months (May, June) the average price fell 90 % 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 $486,568.25 to , which means a 0 % fall.