Israel's Central Bureau of Statistics on Friday released the consumer price index, which rose 0.5% in October. Since the start of 2024, the index has increased by 3.9% over the last twelve months. Notable price increases were recorded in the clothing and footwear (+3.5%), transport (+1.9%), food and health (+0.5% each) sectors. . However, price declines were recorded in the owner housing services, culture and entertainment sectors (-0.2% each).
Note that for tenants who renewed their lease, an increase of 2.2% was recorded, and for new tenants, the increase amounts to 4.0%. Comparing the prices of transactions carried out in August-September 2024 against the prices of transactions carried out in July-August 2024 shows that house prices fell by 0.1%. By district, the following price variations were recorded: Jerusalem (-0.7%), North (+1.2%), Haifa (+0.9%), Center (-0.7%), Tel Aviv (-0.1%) and South (+0.4%). New housing prices increased by 0.1%.
The annual comparison of the prices of transactions carried out in August-September 2024 against the prices of transactions carried out in August-September 2023 shows that the annual house price index increased by 6.1%. By district, price increases were noted in the following districts: Haifa (10.8%), Center (7.2%), North (6.6%), South (6.3%), Jerusalem (4 .7%) and Tel Aviv (3.8%). The annual new housing price index increased by 3.0%.
In the third quarter of 2024, the national average price stood at 2,242,900 shekels, an increase of 2.5% compared to the average price of the previous quarter (2,299,600 shekels).
