Home prices rose by 0.8% in the second quarter of 2012 over the preceding quarter, but were flat compared with the corresponding quarter of 2011, the Central Bureau of Statistics reported yesterday. The average price of a home was NIS 1,118,000 at the end of June, up from NIS 1,109,000 at the end of March, and NIS 1,117,000 at the end of June 2011.
The Central Bureau of Statistics' data, which is nationwide and covers all types of homes, shows mixed trends. Home prices in Tel Aviv were 6.7% higher in the second quarter than in the preceding quarter, pulling the Prices of Dwellings Index up. The average apartment price in Tel Aviv rose to NIS 1.94 million at the end of June from NIS 1.83 million at the end of March, and from NIS 1.88 million at the end of June 2011.
The average price for 4.5-5 room apartments in Tel Aviv rose by 8.3% in the second quarter from the preceding quarter to NIS 3.33 million.
In contrast, the average home price in the Sharon fell 1.4% from the preceding quarter to NIS 1.38 million at the end of June. The average price for 4.5-5 room apartments in Sharon fell by 3.6% in the second quarter from the preceding quarter, and the average price for 3.5-4 room apartments fell by 4.7%.
The average price for 4.5-5 room apartments in Haifa fell by 6.5% in the second quarter from the preceding quarter and the average price for 2.5-3 room apartments in Jerusalem fell by 4.3%.
Earlier this week, the Government Assessor reported that prices for four-room apartments in the 16 towns covered in its survey were 1.9% higher in the second quarter than in the preceding quarter and 1% higher than in the corresponding quarter.
The Central Bureau of Statistics also reported yesterday that rents, which are included in the Consumer Price Index (CPI), rose by 0.1% in June, after rising 0.4% in May.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2012
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