February housing starts in Japan totalled 69,689 units, a 1 per cent increase over February last year and a consecutive 18-month improvement, said the Japan Lumber Reports Friday. Seasonally-adjusted starts were 919,000 units, a 6 per cent decrease over January.
Housing Starts, Japan
Japan’s Ministry of Land, Infrastructure and Transportation commented that the stable economic situation domestically is supporting home purchasing, so current levels are expected to be maintained, said the Japan Lumber Reports. The growth of home purchasing is slowing, but the increase of consumption tax has no demonstrated effects as yet.
New housing starts for owners declined in February for the first time in 18 months. New units for sale also dropped, by 20.9 per cent, in particular condominium starts dropped by 33.5 per cent.