According to a report released by the Ministry of Land, Infrastructure, Transport and Tourism on December 25, 2014, Japan’s housing starts in November 2014 were 78,364 units, down 14.3 per cent from the same month in the previous year, recoding a decline for nine consecutive months, according to Japan Lumber Journal Thursday.
Compared to November 2012 , the decrease was small with a decline of 2.2 per cent. Total housing starts during January-November were 815,845 units, down 8.4 per cent from the same period of a year earlier.
Housing Starts, Japan
Total housing starts in Japan for 2014 are expected to range from about 890,000 to 900,000 units.
Many are projecting housing starts in 2015 to be in the 870,000 unit range with the postponement of increase in consumption tax to 10 per cent, said the Japan Lumber Journal. The demand of lumber is expected to be somewhat steady and the adjustment of demand and supply will become the key to a lumber business success.