Declining willingness among first-time homebuyers to purchase new homes amid upward pressure on long-term interest rates
First written in FY2023-Q3. 6 of 9 entries say "Reframed", first in FY2024-Q1. Latest entry: 2026-07-31.
Fuji Corporation Limited moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- 2026-07-31MitigatedEarnings
「Stable demand has been maintained, particularly among owner-occupiers, and at present the impact of these factors on the group's sales activities is limited.」
While recognizing the effects of higher interest rates and construction costs, the company explained that their impact on sales activities remained limited. - FY2026ReframedAnnual report
「Although there were periods when the impact of rising interest rates was a concern, actual demand remained firm against a backdrop of improving employment and income conditions. The pre-owned housing market was active as new-build property prices remained high, while the investment real estate market, particularly rental housing, remained stable.」
While expressing concern about the impact of rising interest rates on first-time buyers, the company characterizes actual demand as firm due to improving employment and income conditions, and the pre-owned housing and investment real estate markets as stable. - FY2025ReframedAnnual report
「Although the Bank of Japan's review of its policy rate raised concerns about its impact on purchasing power, the economy recovered moderately and wages rose, while the increase in interest rates was slight. As a result, the real estate market remained solid.」
The company recognizes the risk that rising interest rates could weaken purchasing power, while characterizing actual rate increases as minimal and the real estate market as firm. - FY2025-H1ReframedAnnual report
「For now, increases in mortgage rates have been limited, and we believe the impact of changes in financial conditions has been small. However, declining real wages are weighing on purchasing appetite, while rising property prices are outpacing purchasing power, which we believe is the underlying cause.」
The company frames the risk of rising interest rates weakening willingness to purchase as downward pressure on purchasing appetite from declining real wages and property prices exceeding purchasing power, while describing the impact of mortgage rates as limited. - FY2024ReframedAnnual report
「With regard to interest rates, fixed mortgage rates have risen, but the impact on variable rates has been limited, so we believe this has not gone so far as to dampen the desire to purchase homes, which has remained firm.」
Regarding the risk that rising interest rates could weaken willingness to purchase, the explanation has shifted to one that acknowledges rising fixed rates but states that the impact on variable rates is limited and demand remains firm. - FY2024-Q2ReframedAnnual report
「However, with the Bank of Japan maintaining its policy of continued monetary easing, concerns about rising interest rates have receded from their previous levels. Financial institutions are also actively supporting home purchases through higher wages, longer mortgage repayment periods and increased lending limits. As a result, the environment supporting home purchases has improved, and we believe conditions will not deteriorate significantly.」
The company frames the risk of rising interest rates weakening first-time buyers’ willingness to purchase as an improvement in the home-purchase environment, supported by easing concerns about rate increases, higher wages, mortgage terms and support from financial institutions. - FY2024-Q1ReframedAnnual report
「Although demand for housing among first-time buyers remains firm, real estate prices continue to rise or remain high, while higher prices are also reducing household purchasing power. The outlook is difficult to assess, including the extent of expected future interest rate increases, how much upward pressure on prices will ease, and how firmly wage growth will take hold.」
The company frames the impact on willingness to purchase new homes as uncertainty about the outlook, encompassing not only upward pressure on interest rates but also persistently high real estate prices, reduced household purchasing power due to higher prices, and the extent to which wage growth becomes established. - FY2023MaterialisedAnnual report
「In addition to continued increases in, or persistently high levels of, real estate prices, construction costs and housing equipment prices, growing upward pressure on interest rates and psychological uncertainty about the outlook are dampening first-time buyers’ willingness to purchase new homes,」
The company states that upward pressure on interest rates and psychological uncertainty are actually affecting first-time buyers’ willingness to purchase new homes. - FY2023-Q3First statedAnnual report
「Growing upward pressure on interest rates is expected to weaken first-time buyers’ willingness to purchase new homes.」
The company identifies the possibility that upward pressure on interest rates could weaken first-time buyers’ willingness to purchase new homes as a new risk to housing demand.