The prices in real estate in Nowshera, in the North West Frontier Province 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 sq.feet in Nowshera has had a strong decrease during the last 6 months. In September, the average price per sq.feet was Rs. 43,502. In the following month the price per sq.feet decreased considerably to Rs. 20,168. The price for the following two months in (November, December) had a considerable decrease of 28 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 10 % 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 sq.feet of Rs. 20,365.5 to Rs. 2,032.5 during January, and February.
Based upon to the price in Nowshera (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is Rs. 4.93 lakhs. During October the price went through a considerable rise reaching Rs. 1.03 crores. During the following two months (November, December) 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 Rs. 62.46 lakhs to Rs. 28.75 lakhs, which means a 46 % fall.