Housing starts in Japan fall for the fourth consecutive month

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Fordaq
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Housing starts in Japan slumped 7.4 percent year-on-year in October 2019, the fourth straight month of decline, after a 4.9 percent fall in the previous month and compared with market estimates of a 7.6 percent drop.

New construction starts fell for owned (-5.6 percent vs -3.5 percent in September), rented (-16.5 percent vs -16.8 percent), issued (-58.7 percent vs -24.7 percent), prefabricated (-7.9 percent vs -5.8 percent) and two-by-four (-12.7 percent vs -6.9 percent).

In contrast, there were increases in starts for built for sale (7 percent vs 14.1 percent), boosted by both collective housing (16.2 percent vs 34.6 percent) and detached houses (1.4 percent vs 0.1 percent).

Housing starts in Japan averaged 2.46 percent from 1961 until 2019, reaching an all time high of 67.63 percent in March of 1972 and a record low of -43.96 percent in September of 2007.

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