Average house prices fell 8% in August compared with the year-earlier period, the national statistics office CBS said on Friday.

The price drop was the same in July and is the sharpest fall since 1995, when the CBS began monitoring house prices, the institute said. Prices are now at a similar level to eight years ago.
Compared with August 2008, when house prices reached their peak, prices have fallen 16%.
The number of houses changing hands is also continuing to slow, the CBS said. Over the first eight months of this year, 74,000 homes changed ownership, down 5% on the year-earlier period.
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