Israel’s house price boom continues
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The average price of owner-occupied dwellings in Israel rose by 4.01% during the year to Q1 2016, to ILS1,423,000 (US$369,107), from annual price rises of 6% in Q4 2015, 5.2% to Q3, and 7.3% to Q2, and 7.6% to Q1, according to the Central Bureau of Statistics (CBS). When adjusted for inflation, house prices rose by 4.52% y-o-y in Q1 2016. On a quarterly basis, nationwide house prices rose by 0.4% (1.37% in real terms) during the latest quarter.
Gush Dan saw the highest house price increase during the year to Q1 2016, with prices rising by 11.7%. It was followed by the Northern district (9.5%), Qrayot Haifa (6.3%), Southern district (6.2%), and Haifa (5.9%).
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