Figures published today by the Central Bureau of Statistics indicate that a reduction in the inventory of new homes may be in store in the near future. Housing starts in April 2018-March 2019 totaled 48,310, 2.1% fewer than in the preceding year. The Central Bureau of Statistics stressed that according to trend data, housing starts have been falling by an average of 4.4% per quarter, starting in the fourth quarter of 2018, following an average 1.5% quarterly rise in the first three months of 2018.
The Central Bureau of Statistics reported that the Tel Aviv district led the list of housing starts, accounting for 24.1% of all housing starts in April 2018-March 2019, a considerable increase in comparison with April 2017-March 2018. The central district accounted for 22.6% of nationwide housing starts, and the southern district 15.1%.
Leap in Yavne, decline in Haifa and Rishon Lezion
The figures show that housing starts in municipal Tel Aviv, as distinct from the Tel Aviv district, totaled 3,170 in April 2018-March 2019, 1.5% more than in the preceding year and the largest number of housing starts in the period. The number of housing starts in Jerusalem climbed 5% to 2,370. Also posting increases in housing starts were Or Yehuda, Ashdod, Yavne, Gedera, Kiryat Ono, Dimona, and Givatayim. The steepest increase in the number of housing starts was in Yavne - from 113 in April 2017-March 2018 to 990 in April 2018-March 2019. The number of housing starts in Herzliya was up 214% to 1,877. The number of housing starts declined by over 50% in both Haifa and Rishon Lezion, and also declined in Ra'anana, Rehovot, Bnei Brak, and Netanya.
Published by Globes, Israel business news - en.globes.co.il - on June 20, 2019
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