Housing prices in several outlying cities, particularly in the north of the country, began catching up those in other regions during the first nine months of this year.
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Carmiel registered the sharpest gain, with prices jumping 17% to an average NIS 1.01 million for a 4-room apartment. It was followed by Acre, with an 11% increase for an average unit of the same size to NIS 791,000, and Be'er Sheva, where prices rose 8% since the beginning of the year to an average NIS 832,000 – according to a joint survey performed by TheMarker and the Yad2 Internet board for classified ads.
Prices in most cities were up by as much as 5% in the first three quarters, a significant rise but moderate compared to the last three quarters of 2012.
Bat Yam led the Tel Aviv metro area, with prices climbing 7.7% since last December, lifting the cost of an average 4-room apartment to NIS 1.56 million. In Tel Aviv itself and Holon, prices gained 5% to reach NIS 2.7 million and NIS 1.67 respectively for a 4-room home. In other nearby cities, prices rose by 2% to 3% – except for Ramat Gan, where prices actually dipped by 1%, and Herzliya, where prices remained unchanged this year after soaring 9% in the last quarter of 2012. The cost of an average 4-room apartment in both cities at the end of September was NIS 2.1 million.
Hod Hasharon stood out in the outer ring of suburbs, with a 5% gain in the first nine months of 2013 to reach NIS 1.65 million for an average 4-room home. Prices in Modi'in-Maccabim-Reut also rose 5% during the same period, reaching NIS 1.52 million on average for the same sized home.
Ramle, where prices climbed 6%, outshone neighboring Lod, which registered a 2% price hike since the beginning of the year. Prices of 4-room homes in these cities reached NIS 1.12 million and NIS 937,000 respectively. In Kfar Sava, housing prices registered a robust 6% gain during the first nine months of the year, reaching NIS 1.6 million for a 4-room apartment.
In Ashdod, Netanya, and Hadera, where prices have risen substantially in recent years, the trend slowed down considerably this year. Prices in Ashdod gained 2%, to an average of NIS 1.15 million for a 4-room home. In Netanya, prices rose 3% during the first nine months, to an average of NIS 1.37 million for a similar home, while in Hadera they edged up 1% to an average NIS 981,000.
The Haifa area continued showing relatively high price increases. In the city itself and neighboring Kiryat Ata, prices rose 7% in the first three quarters to reach an average NIS 1.09 million and NIS 808,000 respectively for a 4-room apartment.