The average price of a home continued to rise in the third quarter, the Government Assessors Office said Sunday, reporting a 1% rise in Israel's 16 largest cities from the second quarter and a 3% rise from a year ago.

The rise, which is based on approximately 5,300 transactions in Israel's 16 largest cities for four-room dwellings, found the sharpest rise was in Herzliya, where prices rose 4% from the second quarter to an average of NIS 1.79 million. That represented a 3% rise from a year earlier.

The average four-room home in Be'er Sheva rose 3% in the quarter and 5% on the year to NIS 765,000. In Tel Aviv, the average price was NIS 2.52 million, a 3% rise in the quarter and 6% in the year.