New housing starts in Japan for August dropped by 12.5 per cent compared to one year ago, to 73,771 units said Japan Lumber Reports Friday. On a seasonally adjusted basis the starts were 845,000.
There was a 6.1 per cent drop in total housing starts for the first 8 months of 2014 compared to the previous year.
Japan Housing Starts
New units for owners were down 22.7 per cent in August compared to August last year, at 24,250. Total new units built for owners so far in 2014 is 30,000, said Japan Lumber Reports.
Units built for sale continued to surpass 20,000 per month for 2014, however did post declines for the past seven straight months.
Units built for rent dropped 3.8 per cent from August last year, to 28,436 units.