30 June 2006, 10:15  Japan May housing starts rise 6.7 pct yr-on-yr

Housing starts in May rose 6.7 pct from a year earlier to 108,652, the fourth straight monthly increase, the Ministry of Land, Infrastructure and Transport said. The rise was higher than market's estimate for a gain of 5.1 pct, based on a Nihon Keizai Shimbun poll. Housing starts were up 15.0 pct year-on-year in April. In May, starts on houses for rent rose 13.1 pct to 44,744, rising for the 14th straight month. Starts on owner-occupied houses were up 4.5 pct at 33,060, while starts on condominiums were unchanged at 30,164 units.

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