— Japan Sep Housing Starts -10.8% Y/Y Vs Aug +14.0%
— Japan Sep Housing Starts MNI Median Forecast: +7.6%
TOKYO (MNI) – Housing starts in Japan slumped 10.8% in September to
64,206 units, posting the first year-on-year fall in six months, as
demand waned after the government ended its subsidies for building
energy-saving homes in July, data from the Ministry of Land,
Infrastructure, Transport and Tourism showed Monday.
The drop in September came in much weaker than the median economist
forecast for a 7.6% rise in a Market News International survey and
followed a 14.0% rise in August.
The seasonally adjusted annualized rate of housing starts stood at
745,000 units in September, down from 934,000 units in August.
The breakdown follows (year-on-year changes in the previous month
in parentheses):
— Owner-occupied houses -9.7% y/y at 24,978 units, the first drop
in three months.
— Houses for rent -18.2% y/y at 19,395 units, the first fall in
four months.
— Condominiums and houses for sale -7.7% at 18.524 units, the
first fall in 19 months.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
