Capturing latent renovation demand underpinned by the housing stock
First written in FY2017. 3 of 15 entries say "Restated". Latest entry: FY2026.
2 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「While the new housing market is on a declining trend, demand for home renovations is expected to remain firm. The government is also supporting this trend by advocating a shift toward a housing-stock utilization market in its Basic Plan for Housing.」
It continues to hold the market view that the new housing market is shrinking while renovation demand remains firm, driven by a shift toward a housing-stock utilization market. - FY2025-H1Adds concerns about rising mortgage ratesAnnual report
「In the housing market, the willingness to purchase homes has remained weak due to higher housing prices resulting from inflation and surging construction-material costs, as well as concerns over higher mortgage rates, and new housing starts for owner-occupied and subdivision housing have continued to trend downward year on year, resulting in difficult conditions.」
In addition to the previous view regarding the shrinking housing market and renovation demand, it describes weak sentiment toward home purchases due to concerns about rising mortgage rates. - FY2024-Q2The housing market has entered a difficult environment due to inflation and higher construction material costsAnnual report
「The housing market faced difficult conditions as rising prices due to inflation and surging construction-material costs, together with a decline in the willingness to purchase homes, resulted in continued year-on-year declines in new housing starts for owner-occupied and subdivision housing.」
It states that higher prices, surging construction material costs and rising housing prices have weakened sentiment toward home purchases, putting owner-occupied and for-sale housing starts on a declining trend. - FY2023-Q3Housing demand remains firm, driven by relocations to regional areas and other factors, while housing starts are at the previous year's levelAnnual report
「In the housing market, new housing starts for owner-occupied housing declined, while rental and subdivision housing remained firm, and the cumulative annual total remained in line with the previous year, supported by continued government measures to support home purchases and increased demand for housing and renovations due to relocation to regional areas.」
While housing demand arising from relocations to regional areas and demand for home renovations are increasing, owner-occupied housing starts have declined, and the annual cumulative total is at the previous year's level due to the solid performance of rental and for-sale housing. - FY2023-Q2Housing demand remains firm, driven by relocations to regional areas and other factorsAnnual report
「In the housing market, new housing starts in August showed a firm trend, turning positive year on year for the first time in 4 months, as subdivision housing, particularly rental housing and condominiums, recovered amid continued government measures to support home purchases and increased housing demand due to people spending more time at home and relocating to regional areas for remote work.」
Against the previous view that the new housing market was shrinking and weakening, it describes stronger housing demand driven by relocations to regional areas, including those prompted by stay-at-home conditions and working from home, as well as a recovery in housing starts. - FY2022RestatedAnnual report
「While the new housing market is on a declining trend, there is potential demand for renovations driven by new needs arising from changes in the living environment due to COVID-19 and other factors.」
It reaffirms the market view that the new housing market is shrinking while potential renovation demand is being created by changes in the living environment. - FY2021Highlights approximately 62 million homes in the housing stock and potential demand for renovationsAnnual report
「While the new housing market is on a declining trend, Japan has a housing stock of approximately 62 million homes, creating potential demand for renovations.」
Compared with the previous explanation of a housing stock of approximately 50 million homes, it indicates a scale of approximately 62 million homes and explains its relationship to potential renovation demand. - FY2021-Q3The housing market remains weak.Annual report
「In the housing market, owner-occupied housing starts were flat, while rental and subdivision housing starts were below the previous year's levels, leaving the market overall on a weak trend.」
Regarding the new housing market, owner-occupied housing was flat, while rental and for-sale housing were below the previous year, leaving the overall market weak. - FY2021-Q2The housing market remains weak.Annual report
「In the housing market, new housing starts from April through August were below the previous year's levels for owner-occupied, rental, and subdivision housing alike, and the market remained weak.」
Regarding weakness in the new housing market, it explains that new housing starts for all three categories—owner-occupied, rental and for-sale housing—were below the previous year from April through August. - FY2020Specific forecast of a future decline in the new housing marketAnnual report
「Nomura Research Institute expects the number of new housing starts to decline from 950,000 in fiscal 2018 to 630,000 in fiscal 2030.」
The company quantified its forecast for the contraction of the new housing market, projecting a decline from 950,000 units in fiscal 2018 to 630,000 units in fiscal 2030, and provided a specific comparison with renovation demand supported by a housing stock of approximately 50 million homes. - FY2020-Q3The housing market as a whole lacks strengthAnnual report
「In the housing market, although the number of new housing starts for subdivisions has remained firm, owner-occupied and rental housing starts have been trending downward, and the market as a whole has lacked strength.」
While detached for-sale homes remained resilient, owner-occupied and rental housing trended lower, leading the company to recognize that the new housing market as a whole lacks strength. - FY2020-Q2The housing market as a whole is decliningAnnual report
「Although the number of starts for owner-occupied and for-sale housing increased, the decline in rental housing starts resulted in an overall decrease in the housing market.」
Although owner-occupied and for-sale housing increased, rental housing starts declined, resulting in an overall contraction of the housing market. - FY2019-Q3The housing market as a whole is flatAnnual report
「In the housing market, the number of new housing starts remained steady for owner-occupied and for-sale homes, while rental housing starts trended lower, leaving the market as a whole flat.」
Owner-occupied and for-sale housing remained steady, but rental housing declined, leaving the new housing market as a whole flat. - FY2018RestatedAnnual report
「The company's business environment is characterized by a declining trend in the new housing market due to the declining birthrate, aging population and falling number of households, while latent renovation demand is supported by a housing stock of approximately 50 million homes.」
The company reiterated its view that the new housing market is shrinking, while latent renovation demand is supported by a housing stock of approximately 50 million homes. - FY2017First statedAnnual report
「The living environment is also changing, with consumer patterns, customer needs and values, and lifestyles becoming more diverse. This is creating demand for healthy, comfortable living and coexistence with the environment.」
While the new housing market is shrinking because of the declining birthrate, aging population and falling number of households, the company recognizes latent renovation demand supported by a housing stock of approximately 50 million homes.