Decline in new housing starts
First written in FY2019-Q3. 16 of 27 entries say "Worsened", first in FY2020-Q1. Latest entry: 2026-08-13.
SAAF Holdings moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- 2026-08-13MitigatedEarnings
「In the housing market, owner-occupied and rental housing showed an upward trend supported by private and public funds, increasing for 3 consecutive months from April 2026 and rising 20.2% year on year (Source: Housing Starts Statistics, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts shifted from the recent declining trend to a 20.2% year-on-year increase in the quarter. - FY2026WorsenedAnnual report
「New housing starts fell sharply because of higher costs caused by inflation and the reaction from rush construction ahead of the amendments to the Building Standards Act enacted in April 2025, down 14.3% year on year (Source: Housing Starts Statistics, Ministry of Land, Infrastructure, Transport and Tourism).」
The decline in new housing starts widened to 14.3% year on year, with higher prices, a reactionary decline following the legal amendment, and delays in building confirmation reviews identified as new factors behind the decrease. - FY2026-H1WorsenedAnnual report
「New housing starts decreased 8.9% year on year (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 8.9% year on year. The decline widened from the previously reported 0.8% year-on-year decrease. - FY2025-H1MitigatedAnnual report
「In the construction industry, another core business, public investment remained firm, but new housing starts decreased 0.8% year on year due to higher or persistently high housing sales prices resulting from soaring material prices and weaker consumer sentiment amid rising prices, among other factors (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 0.8% year on year, but the decline narrowed compared with the 7.0% annual decrease in the previous fiscal year. - FY2024WorsenedAnnual report
「Annual domestic new housing starts for the fiscal year ended March 2024 decreased 7.0% from the previous fiscal year, despite the continuing spread of COVID-19 variants and soaring material prices amid global inflation, due to the start of a recovery in the economic supply-demand balance and fewer postponed construction projects compared with the previous year, among other factors.」
New housing starts decreased 7.0% from the previous fiscal year, confirming a decline on an annual basis compared with the previous quarter's 6.3% year-on-year decrease. - FY2024-Q3WorsenedAnnual report
「In the construction industry, another core business, public investment remained firm, but starts of owner-occupied and rental housing declined due to higher housing sales prices resulting from soaring material prices and weaker consumer sentiment amid rising prices. New housing starts therefore decreased 6.3% year on year (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 6.3% year on year against a backdrop of higher housing sales prices and weaker consumer sentiment. - FY2024-Q2WorsenedAnnual report
「In the construction industry, another core business, public investment remained firm, but new housing starts decreased 6.2% year on year, substantially affected by fewer owner-occupied and sales housing starts due to higher housing sales prices resulting from soaring material prices and weaker consumer sentiment amid rising prices (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 6.2% year on year against a backdrop of higher housing sales prices and weaker consumer sentiment, among other factors. - FY2024-Q1WorsenedAnnual report
「In the construction industry, another core business, public investment remained firm and private investment in housing construction also remained solid. However, the business environment remained difficult due to shortages of skilled workers and persistently high construction material prices, among other factors, and new housing starts decreased 4.7% year on year (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 4.7% year on year amid continuing shortages of skilled workers and persistently high construction material prices. - FY2023-Q3WorsenedAnnual report
「Although difficult conditions continued in the construction industry, another core business, new housing starts decreased 1.6% year on year due to higher mortgage rates and housing material prices, among other factors (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased 1.6% year on year, widening from the 0.02% decrease in the previous quarter. The effects of higher mortgage rates and housing material prices continue. - FY2023-Q2MitigatedAnnual report
「Although difficult conditions continued in the construction industry due to the COVID-19 pandemic, new housing starts decreased 0.02% year on year due to higher mortgage rates and housing material prices, among other factors, while starts in August and September increased year on year (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts decreased only 0.02% year on year, while starts in August and September increased from the same months a year earlier. Factors depressing starts, including higher mortgage rates and material prices, remain, but the decline narrowed from the previous quarter. - FY2023-Q1WorsenedAnnual report
「Although difficult conditions continued in the construction industry, another core business, new housing starts decreased 1.3% year on year due to an upward trend in mortgage rates and higher housing material prices, among other factors (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts, which had increased on an annual basis in the previous fiscal year, decreased 1.3% year on year in the current quarter due to the upward trend in mortgage rates and higher material prices, among other factors. - FY2022MitigatedAnnual report
「In the ground survey and improvement market, annual new housing starts for the fiscal year ended March 2022 increased 6.6% from the previous fiscal year as the economy recovered and construction resumed on projects whose work had been postponed, despite the continuing COVID-19 pandemic and high material prices, among other factors.」
New housing starts increased 6.6% from the previous fiscal year, and the reported risk of a decline in the housing market shifted toward recovery. - FY2022-Q3MitigatedAnnual report
「Although difficult conditions continued in the construction industry, another core business, due to the COVID-19 pandemic and higher material prices, among other factors, new housing starts increased 6.1% year on year as the economy recovered and construction resumed on projects whose work had been postponed, among other factors.」
Although the effects of the COVID-19 pandemic and higher material prices remain, new housing starts increased 6.1% year on year due to the economic recovery and the resumption of construction. The view that the risk of a decline in housing starts is moving toward recovery has continued to be reported. - FY2022-Q2MitigatedAnnual report
「Although difficult conditions continued in the construction industry, another core business, due to the COVID-19 pandemic, new housing starts increased 7.6% year on year as the economy recovered and construction resumed on projects whose work had been postponed, marking 7 consecutive months of growth (Source: Building Construction Starts Statistics Survey, Ministry of Land, Infrastructure, Transport and Tourism).」
New housing starts increased 7.6% year on year due to the economic recovery and the resumption of construction, marking 7 consecutive months of growth. The risk of a decline in housing starts has continued to move toward recovery. - FY2022-Q1MitigatedAnnual report
「New housing starts increased 8.1% year on year, driven by an economic recovery and the resumption of construction starts for projects whose construction had been postponed, among other factors.」
New housing starts shifted from the 8.1% annual decrease reported for the previous fiscal year to an 8.1% year-on-year increase in the current quarter. - FY2021WorsenedAnnual report
「Annual new housing starts for the fiscal year ended March 2021 decreased 8.1% from the previous fiscal year, as consumer sentiment weakened due to the COVID-19 pandemic and financial institutions also tightened lending conditions for privately financed owner-occupied homes and apartments, among other properties.」
The decline in new housing starts widened from the 7.3% year-on-year decrease in the previous fiscal year to an 8.1% decrease from the previous fiscal year. - FY2021-Q3RestatedAnnual report
「In the construction industry, another core business, new housing starts for owner-occupied homes and privately financed apartments decreased 7.0% year on year, as consumer sentiment weakened due to the COVID-19 pandemic and financial institutions also tightened lending conditions.」
The decline in new housing starts continued, with the current quarter recording a 7.0% year-on-year decrease. - FY2021-Q2RestatedAnnual report
「In the construction industry, another core business, new housing starts for owner-occupied homes and privately financed apartments decreased 10.1% year on year, as consumer sentiment weakened due to the COVID-19 pandemic and financial institutions also tightened lending conditions.」
The decline in new housing starts continued, with the current quarter recording a 10.1% year-on-year decrease. - FY2021-Q1WorsenedAnnual report
「The construction industry, another core business, also saw new housing starts for owner-occupied homes and privately financed apartments decrease 12.6% year on year, as consumer sentiment weakened and financial institutions tightened lending conditions, among other factors.」
New housing starts decreased 12.6% year on year. Compared with the annual 7.3% decrease reported for the previous fiscal year, the decline was steeper on a year-on-year basis in the current quarter. - FY2020WorsenedAnnual report
「Annual new housing starts for the fiscal year ended March 2020 decreased 7.3% year on year, marking the third consecutive year of decline.」
The decline in new housing starts widened from the previously reported 4.3% decrease to 7.3%, marking the third consecutive year of decline. - FY2020-Q3WorsenedAnnual report
「In the construction industry, another core business, starts of rental housing such as privately financed apartments decreased markedly due to stricter lending conditions imposed by financial institutions and other factors. New housing starts in 2019 therefore decreased 4.3% year on year, marking the third consecutive year of decline.」
It states that rental housing starts decreased markedly and that new housing starts decreased 4.3% year on year, marking the third consecutive year of decline, indicating that the downward trend in the housing market has persisted. - FY2020-Q2WorsenedAnnual report
「The construction industry, another core business, saw an upward trend in condominium and detached-house sales housing starts year on year, but rental housing starts fell sharply due in part to financial institutions reviewing personal lending. As a result, new housing starts decreased 5.3% year on year.」
Rental housing starts fell sharply, and total new housing starts also decreased 5.3% year on year. The decline widened from the 4.7% decrease in the previous quarter. - FY2020-Q1WorsenedAnnual report
「In the construction industry, another core business, owner-occupied housing starts were trending higher year on year, but rental housing starts declined substantially due in part to the impact of financial institutions’ review of personal lending. As a result, new housing starts decreased 4.7% year on year.」
It states that quarterly new housing starts decreased 4.7% year on year, with a particularly sharp decline in rental housing starts. - FY2019RestatedAnnual report
「The number of new housing starts in 2018 decreased 2.3% year on year, marking a decline for the second consecutive year, while from the second half of 2018 through the end of March 2019, the number of new housing starts was trending higher compared with the previous period excluding rental housing, and」
Although housing starts declined year on year for the full year, an additional comment stated that they were trending higher in the latter half of the period, excluding rental housing. - FY2019-Q3First statedAnnual report
「The number of new housing starts in 2018 decreased 2.3% year on year, marking a decline for the second consecutive year.」
The decline in housing starts relevant to the ground-related business was shown with supporting figures.