Home prices are now down over the past 12 months while inflation is rising, the Central Bureau of Statistics reports.
The fall in home prices continues according to the latest figures published by the Central Bureau of Statistics. Home prices fell 0.2% in March 2018 and have now fallen 0.1% in the past 12 months. Moreover, the fall in house prices of 0.2% in February has now been revised downwards to 0.5%. This is the first time in 10 years that housing prices have fallen over a 12-month period.
In February-March 2018, housing prices rose 1.2% in Jerusalem and by 0.4% in Haifa and the north but fell 0.9% in Tel Aviv and 1.5% in the south. The price of new homes fell 1.2% with 28.2% of new homes sold in the Israeli government's buyers fixed price program.
The Consumer Price Index (CPI) rose 0.4% in April, the Central Bureau of Statistics reported, after rising 0.3% in March. Inflation over the past 12 months is 0.4%, finally beginning to move towards the government target of between 1% and 3%. Notable price rises in April were in fresh fruit and vegetables (4.1%) and clothing and footwear (2.2%). Notable price falls were in cars (1.4%).
Published by Globes [online], Israel business news - www.globes-online.com - on May 15, 2018
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Amiram Barkat and Ori Chudy