Japan’s housing starts in March were 69,887 units (up 0.7 per cent from the same month in the previous year), surpassing the previous year’s results for the first time in 13 months. The seasonally-adjusted annual rate was 920,000 units (up 1.7 per cent from the previous month), said Japan Lumber Journal and Japan Lumber Reports, both Friday.
Housing Starts, Japan
Japan’s housing starts of rental houses rose 4.6 per cent to 30,243 units, increasing for the first time in nine months, and this was the main reason for the year-on-year increase. Housing starts of owner occupied houses were down 1.4 per cent to 21,352 units, decreasing for 14 consecutive months, and those of built-for-sale houses also declined 4.9 per cent to 17,560 units, turning from the increase in the previous month to the decrease.
The breakdown of other housing starts was 7,575 units for condominiums (down 8.6 per cent) and 9,887 units for single-family houses (down 1.6 per cent).
Two-by-four houses were 8,936 units (up 3.8 per cent), showing an increase for two straight months.