Housing prices rose by 6.8% in 2012, and by 74.5% in nominal prices since May 2007, the Central Bureau of Statistics reported today.
The Bank of Israel's worries about rising home prices are supported by the Central Bureau of Statistics, which reports that home prices rose by 1% in December 2012, after rising 1.1% in November and 0.8% in October. Home prices fell in just one month last year -June - and even then by just 0.1%. Monthly prices rose by 1-1.1% in three months: April, November, and December.
The rise in home prices in 2012 followed the 2.76% rise in 2011, 12.8% gain in 2010, 19.6% gain in 2009, and 10% rise in 2008.
The Central Bureau of Statistics also reported that the average gross national salary of Israeli employees was NIS 8.837 in November 2012, 0.5% less than at the beginning of the year. From NIS 8,644 in January 2011, the average national salary rose by 2.2% through November 2012, while housing prices rose by 8.6%.
Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013