After falls in recent months, home prices are back on the rise. The price of an average home in Israel rose by 0.3% in February 2012, the Central Bureau of Statistics reported this evening in its Home Price Index.
In its updated figures, the Central Bureau of Statistics reports that the price of Israeli homes has fallen in four of the past five months, including a 0.1% fall in January 2012, a 0.4% fall in November 2011, a 0.9% fall in October 2011 and a 0.3% fall in September 2011. Home prices rose by 0.3% in December 2011.
The fall in September 2011 had been the first such monthly fall in 30 months. Between January 2009 and August 2011, the index rose in every single month for an accumulated total rise of 38% in the price of Israeli homes.
At the end of 2011, the price of an average Israeli home (excluding new homes) stood at NIS 1.08 million, 2% down from the preceding quarter.
Published by Globes, Israel business news - www.globes-online.com - on February 16, 2012
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