TOKYO (MNI) – Housing starts in Japan rose 0.6% in April from a
year earlier to 66,568 units, posting the first year-on-year rise in 17
months, the Ministry of Land, Infrastructure, Transport and Tourism said
on Monday.
The April rise reversed from -2.4% in March, -9.3% in February,
-8.1% in January and the double-digit decreases seen throughout 2009
that ranged from -15.7% y/y to -38.3%.
The latest figure came in weaker than the consensus call of a 6.2%
rise.
The biggest drop on record was -44.0% marked in September 2007.
The seasonally adjusted annualized rate of housing starts stood at
793,000 units in April, down from 854,000 units in March.
The breakdown follows (on-year changes in the previous month in
parentheses):
— Owner-occupied houses +2.3% at 23,496 units (vs. +3.2%), posting
the sixth consecutive month of y/y gains.
— Houses for rent -7.0% at 24,425 units (vs. -12.5%), down for the
17th straight month.
— Condominiums and houses for sale +27.4% at 18,083 units (vs.
+8.8%), the second consecutive y/y rise.
tokyo@marketnews.com
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