Thursday, September 27, 2012
Housing demand hits 13-year high
An all-time record NIS 5.8 billion in new mortgages was taken in August 2012 according to the Bank of Israel. New homes sales in August were 44% higher in the southern district compared with July, 40% higher in Haifa and 31% higher in central Israel. Sales were unchanged in Tel Aviv and Jerusalem and 27% lower in the northern district.
As a result of stronger sales of new apartments, new housing inventory has fallen 4% to 20,000 of which nearly 12,000 are in the center and Tel Aviv. At the current rate of sales the inventory will last 10 months.