Price index of dwellings, including new and second-hand dwellings (change in prices less quality):
Comparing the prices of transactions made in September 2021 – October 2021, compared with the prices of transactions made in August 2021 – September 2021, it was found that apartment prices rose by 0.9 percent. See data series from 0212 in Table 1
Figure 1 shows the percentage of bi-monthly change in housing prices over the last 12 months.
Diagram 1: Percentage of bi-monthly change in the housing price index
Comparing the transactions made in the current period compared to the corresponding period last year, ie September 2021 – October 2021, compared to September 2020 – October 2020, it was found that apartment prices increased by 10.3%. Figure 2 shows the percentage change in the housing price index over the past decade. The chart shows that the annual price increase has reached its highest level in a decade. This is after a moderation in the rate of price increase relative to the beginning of the decade to the point of price declines in the last three quarters of 2018 (the shaded area).
Diagram 2: Percentage of annual change (each period compared to the corresponding period last year)
Price indices of dwellings by district (change in prices less quality):
Figure 3 shows the price changes in the last three temporary indices by segmentation by district. In the months of September 2021 – October 2021, compared to August 2021 – September 2021, the following price changes were found: Jerusalem (1.2%), North (0.5%), Haifa (1.4%), Central (0.2%), Tel Aviv (1.3%) And south (1.5%).
Diagram 3: Housing Price Indices by District, Percent Change (Temporary Data)
From the comparison of transactions made in the current period compared to the corresponding period last year, ie, September 2021 – October 2021, compared to September 2020 – October 2020, price increases were recorded in all districts: Jerusalem (11.5%), Central (11.2%), Haifa (9.9%), South (9.9%), Tel Aviv (9.0%) and North (8.6%).
Price index for new dwellings (change in prices less quality):
From a comparison of the prices of transactions made in the months of September 2021 – October 2021 compared to August 2021 – September 2021, it was found that the prices of the new dwellings remained unchanged. Of all transactions for new dwellings, the rate of transactions under government support (price per occupant) increased from 22.8% in the previous period (August 2021 – September 2021) to 26.5% in the current period. It should be noted that the rate of government-supported transactions is usually negatively correlated with the price index of new dwellings. A survey we conducted shows that the price index of new dwellings, less price-per-tenant transactions, increased by 0.8%.
Figure 4 shows the development of the new housing price index compared to the general housing price index over the past three years.
Diagram 4: General housing price index compared to the new housing price index
Comparing the transactions made in the current period compared to the corresponding period last year, September 2021 – October 2021, compared to September 2020 – October 2020, it was found that the prices of new dwellings increased by 22.9%.
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