Downward Pressure on Housing Demand from Sluggish Personal Consumption and a Frugal Mindset
First written in FY2016-Q3. 9 of 29 entries say "Restated". Latest entry: 2026-07-14.
Avantia moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2026-H1SoftenedAnnual report
「In the housing and real estate industry, actual-demand purchasing sentiment, particularly among first-time buyers, remained cautious due to persistently high home prices resulting from rising land prices and construction costs, as well as higher consumer prices and mortgage rates. At the same time, purchasing activity showed signs of recovery in some regions and price ranges, supported by the continued strong preference for homeownership and expectations for future income as wage increases become established.」
While higher home prices, consumer prices and mortgage rates continued to weigh on purchasing sentiment, some recovery in purchasing activity was also evident, supported by the preference for homeownership and expectations of wage increases. - FY2025-H1Concern that rising prices will weigh on private consumptionAnnual report
「Although private consumption and other areas remained sluggish due to the impact of rising prices and other factors, the economy generally continued on a gradual recovery trend.」
While generally maintaining a gradual recovery trend, it continues to point to sluggish private consumption due to rising prices and other factors. - FY2024-Q3RestatedAnnual report
「Amid continued upward pressure on home prices, concerns about rising mortgage rates have intensified, and the prolonged weakness in home-purchase sentiment among actual-demand buyers, particularly first-time buyers, has continued. The business environment remains extremely challenging, including in the outlook ahead.」
Rising home prices, concerns about higher mortgage rates, and the prolonged weakness in home-purchase sentiment among first-time buyers have continued, resulting in a persistently challenging demand environment. - FY2024-Q2WorsenedAnnual report
「In the housing and real estate industry, sentiment toward home purchases among actual-demand buyers, particularly first-time buyers, has remained weak. In addition, concerns about rising mortgage rates have recently intensified, and the extremely challenging business environment is expected to continue, including in the outlook ahead.」
It explains that sentiment toward home purchases, particularly among first-time buyers, remains weak, while concerns about rising mortgage rates have also intensified, making the business environment extremely challenging. - FY2024-Q1WorsenedAnnual report
「In the housing and real estate industry, demand for detached homes remains weak, while higher land and construction-material prices are driving up home prices. Long-term interest rates are also on an upward trend, making the business environment increasingly challenging.」
It explains that the business environment is becoming even more challenging, citing the continued weakness in demand for detached homes, soaring land prices and construction material costs, and the clear upward trend in long-term interest rates. - FY2023WorsenedAnnual report
「In the housing and real estate industry, demand for detached homes has reached a plateau after rising during the pandemic. Consumers' willingness to purchase homes, particularly among first-time buyers, continues to weaken against a backdrop of persistently high land prices, surging home prices due to higher material and labor costs, rapid inflation and uncertainty over the future course of long-term interest rates.」
The company explains that consumers' willingness to purchase homes remains weak against a backdrop of demand reaching a plateau, surging home prices, inflation and uncertainty over long-term interest rates. - FY2023-Q2WorsenedAnnual report
「In the housing and real estate industry, demand for detached homes remains firm, but consumers' willingness to purchase homes is weak due to rising home prices, consumer prices and long-term interest rates.」
While indicating that demand for detached homes remains firm, the company identifies rising home prices, consumer prices and long-term interest rates as factors weakening consumers' willingness to purchase homes, with downward pressure on the demand environment continuing and becoming more specific. - FY2023-Q1WorsenedAnnual report
「Although demand for detached homes remains firm, consumers' willingness to purchase homes has begun to weaken due to rising home prices and successive increases in the cost of daily necessities and energy, and the business environment is becoming increasingly challenging.」
While stating that demand for detached homes remains firm, the company says that consumers' willingness to purchase homes has begun to weaken due to rising home prices, the cost of daily necessities and energy costs. - FY2021-Q3RestatedAnnual report
「Housing demand remains firm against a backdrop of housing acquisition support policies and continued monetary easing. In addition, changes in lifestyles resulting from the spread of telework have increased interest in acquiring detached homes, and the company's current orders are progressing well. However, the company needs to monitor future trends due to economic instability.」
Housing demand and current orders are described as firm and progressing well, while caution regarding economic instability continues. - FY2021-Q2RestatedAnnual report
「Housing demand remains firm against a backdrop of housing acquisition support policies and continued monetary easing. In addition, changes in lifestyles resulting from the spread of telework have increased interest in acquiring detached homes, and the company's current orders are progressing well. However, the company needs to monitor future trends due to economic instability.」
Housing demand and current orders are described as firm and progressing well, while caution regarding economic instability continues. - FY2021-Q1SoftenedAnnual report
「Housing demand remains firm against a backdrop of housing acquisition support policies and continued monetary easing. In addition, changes in lifestyles resulting from the spread of telework have increased interest in acquiring detached homes, and the company's current orders are progressing well. However, the company needs to monitor future trends due to economic instability.」
Housing demand and current orders are described as firm and progressing well, weakening the description of the severe demand environment caused by the previous period's consumption tax increase and the pandemic. However, caution regarding economic instability continues. - FY2020WorsenedAnnual report
「The decline caused by the consumption tax increase continued from October 2019. Just as signs of a recovery had emerged after the start of the year, the situation became extremely difficult due to the impact of requests to suspend business activities and calls to refrain from going out amid the spread of COVID-19.」
The company explains that housing demand and personal consumption actually came under severe pressure as the impact of the consumption tax increase was compounded by the suspension of business activities and restrictions on going out due to COVID-19. - FY2020-Q3WorsenedAnnual report
「During the first 3 quarters of the consolidated fiscal year, Japan's economy was in an extremely difficult situation, as the consumption tax increase in October of the previous year and the global spread of COVID-19 constrained economic activity, worsening personal consumption and reducing corporate earnings.」
The assessment deteriorated further from the previous view of recovering and firm personal consumption to worsening personal consumption due to the consumption tax increase and the spread of COVID-19. - FY2020-Q2WorsenedAnnual report
「Personal consumption declined sharply due to the consumption tax increase and natural disasters, while corporate earnings fell substantially, particularly in the manufacturing sector. As a result, real GDP for the October–December 2019 quarter, based on the second preliminary estimate, contracted at an annualized rate of 7.1%, marking the sharpest negative growth since the previous consumption tax increase.」
The assessment deteriorated from the previous description of firm personal consumption and a recovery trend to a sharp decline in personal consumption due to the consumption tax increase and natural disasters. - FY2020-Q1RestatedAnnual report
「Personal consumption continued on a gradual recovery trend, remaining firm on the back of improving employment and income conditions, but」
The company maintains its view that personal consumption remains firm and on a recovery trend rather than sluggish. - FY2019RestatedAnnual report
「Employment and income conditions improved against a backdrop of corporate earnings remaining at a high level, while personal consumption remained firm and continued on a gradual recovery trend, but」
The company maintains its view that personal consumption remains firm and on a recovery trend. - FY2019-Q3RestatedAnnual report
「Employment and income conditions improved against a backdrop of corporate earnings remaining at a high level, while personal consumption remained firm and continued on a gradual recovery trend, but」
The company continues to indicate that personal consumption remains firm against a backdrop of employment and income conditions, rather than weak and under pressure. - FY2019-Q2SoftenedAnnual report
「Personal consumption continues on a gradual recovery trend, remaining firm against a backdrop of favorable employment and income conditions resulting from high corporate earnings, but」
The company emphasizes that personal consumption remains firm and on a recovery trend rather than weak and under pressure. - FY2019-Q1SoftenedAnnual report
「Personal consumption continues on a recovery trend, including sustained recovery against a backdrop of favorable employment and income conditions resulting from high corporate earnings, but」
The company explains that personal consumption continues to recover against a backdrop of favorable employment and income conditions, weakening the wording concerning the risk of sluggish personal consumption. - FY2018SoftenedAnnual report
「During the consolidated fiscal year, Japan's economy continued on a recovery trend, with corporate earnings remaining firm as personal consumption and capital investment recovered, alongside improvements in employment and income conditions.」
The description of a recovery trend, including a rebound in personal consumption and improvements in employment and income conditions, is more prominent than the previous view of downward pressure from weak personal consumption and consumers' preference for frugality. - FY2018-Q3SoftenedAnnual report
「Personal consumption continues to recover, with signs of improvement supported by better employment conditions and firm consumer sentiment.」
The company indicates a recovery in personal consumption against a backdrop of improving employment conditions and consumer sentiment, further weakening its previous wording on the risk of sluggish personal consumption. - FY2018-Q2SoftenedAnnual report
「Household consumption is also gradually recovering, supported by firm employment and income conditions and the rebound from the decline caused by last year's vehicle inspection scandal and prolonged rainy weather.」
The company states that consumption is gradually recovering on the back of employment and income conditions and rebound factors, and the wording concerning downside risks to personal consumption is less negative than through the previous quarter. - FY2018-Q1SoftenedAnnual report
「Personal consumption has temporarily declined due to typhoons and other adverse weather conditions, as well as the issue involving unqualified inspections by a major manufacturer. However, the gradual recovery trend is considered unchanged, supported by improving employment conditions and firm consumer sentiment.」
While noting the temporary decline in personal consumption due to adverse weather and other factors, the company states that the gradual recovery trend supported by employment conditions and consumer sentiment remains intact. - FY2017-Q3Specific factors weighing on demandAnnual report
「Although employment conditions are improving and consumer sentiment continues to recover, personal consumption remains weak because stagnant wage growth and the rising burden of social insurance premiums are weighing on disposable income.」
While maintaining its previous view of weak personal consumption as a risk, the company specifies stagnant wage growth and the burden of social insurance premiums as factors weighing on disposable income. - FY2017-Q2RestatedAnnual report
「Personal consumption lacks strength and has moved back and forth due to stagnant disposable income,」
The company continues to identify weak personal consumption due to stagnant disposable income as a factor weighing on the business environment. - FY2017-Q1RestatedAnnual report
「A strong tendency to protect household finances in response to stagnant disposable income and concerns about the future also remains, and the boost to the economy is expected to be limited.」
The company continues to identify stagnant disposable income, concerns about the future and defensive household spending as factors weighing on personal consumption. - FY2016-Q3First statedAnnual report
「The recovery in personal consumption remains sluggish due to stagnant real income and consumers' preference for frugality, and the economy continues to stagnate.」
The company identifies sluggish personal consumption, against a backdrop of stagnant real income and consumers' preference for frugality, as a business-environment risk.