31 March 2006, 09:41  Japan Feb housing starts rise 13.7 % yr/yr

Housing starts in February rose 13.7 pct year-on-year to 96,995, the first increase in three months, the Ministry of Land, Infrastructure and Transport said. The rise was much higher than market's estimate of 4.1 pct, based on a poll by the Nihon Keizai Shimbun. Housing starts fell 2.2 pct year-on-year in January. In February, starts on houses for rent rose 16.5 pct to 39,949, rising for the 11th straight month and those on dwellings in multi-unit buildings jumped 21.5 pct to 31,602, the first increase in three months. Starts on owner-occupied houses gained 1.2 pct to 24,923, also the first increase in three months.

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