Home prices continue falling in Israel
The fall in home prices continues in Israel, 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, Globes reports.
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%).