— Japan June Housing Starts -0.2% Y/Y; MNI Median Fcast +9.5%
TOKYO (MNI) – Housing starts in Japan fell 0.2% on the year to
72,566 units in June, posting the first fall in five months, as effects
of the government’s economic stimulus measures have waned, data from the
Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.
The June figure came in weaker than the median economist forecast
for a 9.5% rise in a MNI survey and followed a 9.3% rise in May.
As a result, the seasonally adjusted annualized rate of housing
starts stood at 837,000 units in June, down from 903,000 units in May.
Until recently housing construction was supported by the
government’s revived temporary reward program for buying energy-saving
houses.
But the land ministry has stopped receiving applications for reward
points, which are given to owners of greener homes under construction or
those being renovated to save energy consumption. The program was
terminated nearly four months earlier than the Oct. 31, 2012 end-date in
the original plan.
The breakdown follows:
— Owner-occupied houses: +0.1% y/y at 26,971 units, a third
straight rise.
— Houses for rent: +3.3% y/y at 26,976 units, a sixth straight
rise.
— Condominiums and houses for sale: -7.2% at 17,724 units, the
first fall in five months.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
