The prices in real estate in Townsville, in the Queensland 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 Townsville has had a strong decrease during the last 6 months. In September, the average price per m² was $541. In the following month the price per m² decreased to $508. In the following two months the price per m² has barely changed, going from $524.5 to $535.5 per m². The price per m² has had a considerable deflation of 66 % 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 $530 to $351.5 during January, and February.
Based upon to the price in Townsville (suburbs), this has fallen considerably in the last 6 months. In our first sample month during September, the average price is $446,567. In October This price remains at $428,180. In the following two months the average price has remained the same with regard to the previous two months from $437,373.5 to $434,703.5. During the last two months the average price has had a strong fall compared to the previous four going from $436,038.5 to $221,666.5, which means a 51 % fall.