Japan Housing Starts: March 2016

Total housing starts in Japan for March were 75,744 units, up 8.4 per cent over March one year ago, said the Japan Lumber Journal Friday.

Housing Starts, Japan

Japan housing starts of built-for-sale houses for March increased by 26 per cent year- on- year, and those of owner-occupied and rental houses also increased, said the Japan Lumber Journal Friday. The seasonally-adjusted annual rate was 993,000 units, up 2 per cent from the previous month.

Housing starts of owner-occupied houses were 22,274 units (up 4.3 per cent from the same month of the previous year). Of the 22,274 units, 19,555 units were by private sector (up 2.2 per cent), and 3,039 units were by public sector (up 22.9 per cent).

SOURCE: Japan Lumber Reports
SOURCE: Japan Lumber Reports

Housing starts of built-for-sale houses increased significantly to 22,125 units (up 26 per cent) because the previous year’s results were at a low level. In particular, condominiums considerably increased to 11,290 units (up 49 per cent). Housing starts of single family houses were 10,678 units (up 8 per cent), increasing for five months in a row and remaining stable.

Starts of rental houses were 30,572 units (up 1.1 per cent), increasing for five moths in a row. This sector has been in good shape owing to such factors as gift tax reduction.

By construction methods, Japan housing starts of prefabricated houses were 10,941 units (down 5.6 per cent), while those of two-by-four houses were 9,553 units (up 6.9 per cent). Two-by- four houses increased for two consecutive months owing to rental houses which have been in good shape. By structure, housing starts of wooden houses were 41,154 units (up 7.6 per cent).

The ratio of wooden houses by the number of units was 54.3 per cent, increasing by 1.3 points from the pre– vious month. By region housing starts increased in all areas because the previous year’s results were at a low level.