— See Separate Table For Details of Individual Forecasts
TOKYO (MNI) – Japanese housing starts are expected to have risen
7.6% in September, which would be a sixth straight year-on-year gain,
according to the median forecast of analysts surveyed by Market News
International.
The Ministry of Land, Infrastructure, Transport and Tourism will
release the data at 1400 JST (0500 GMT) on Monday, Oct. 31.
“Appetite for purchasing houses, which had been dampened
temporarily by the March 11 (earthquake) disaster, has been picking up,”
said Masao Okayama, economist at Norinchukin Research Institute.
But the September y/y gain is expected to have slowed from +14.0%
in August and +21.2% in July, due to “the end of the government’s reward
program” for building energy-saving homes at the end of July, said
Akiyoshi Takumori, chief economist at Sumitomo Mitsui Asset Management.
Housing permits issued by the land ministry, which is seen as a
leading indicator for housing starts, fell 11.1% y/y in August, posting
the first drop in four months, following +16.1% in July and +5.1% in
June.
On a seasonally adjusted annualized basis, housing starts appeared
to have totaled 901,500 units in September, down from 934,000 in August
and 955,000 in July.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
