October 2022 Japan Housing Starts
October 2022 Japan Housing Starts
October total housing starts fell 1.8% to 76,590 units. With inflation weighing on consumer confidence, we are seeing a continued slowdown in owner occupied housing, with the segment falling 18.7%. Rental housing continues to recover, posting a 7.3% increase for October and the 20th consecutive monthly gain. Also indicative of strength in the multi-family segment, the mansion condominium market increased 7.3% in October. By contrast, wooden housing is showing weakness – falling 7.7% to 42,849 units. Post and beam starts fell 8.4% to 32,962 units. Wooden prefab starts were down 4.3% to 1,022 units and but total prefab advanced 12% to 11,133 units. Platform frame declined 5.3% to 8,865 units. Results of 2×4 starts by housing type were as follows: single family custom homes fell 17.4% to 2,591 units, rental housing gained 1.5% to 5,244 units and built for sale spec housing was flat at 1,013 units.
October 2022 Non-Residential Construction
October total non-residential construction starts increased 3.8% to 4,235 units. Total October wood non-residential starts increased 8.9% to 1,588 units. By order of total floor area, wooden starts were led by medical and social welfare facilities, mixed residential and commercial, restaurants and accommodation and agricultural buildings. Year to date total non-residential starts edged up 0.9% to 39,046 units and total wooden starts increased 2.4% to 14,511 units. Total year to date wooden floor area declined 2.1% to 2,691,861m2.