Housing starts in Japan declined by 4.1 percent year-on-year in July 2019, compared to market consensus of a 5.4 percent fall and reversing a 0.3 percent gain in the previous month. There were falls in construction starts for both rented (-15.2 percent vs -12.2 percent in June) and two-by-four (-4.1 percent vs -0.6 percent). In addition, starts rose much softer for both owned (3.3 percent vs 12.9 percent) and prefabricated (0.7 percent vs 8.9 percent). Also, new construction starts for built for sale grew less (5.1 percent vs 7.8 percent), due to a drop in collective housing (-1.1 percent vs -4.2 percent) while detached houses eased (8.9 percent vs 10 percent). Meanwhile, starts for issued increased for the first time in three months (43.3 percent vs -34.3 percent). Housing Starts in Japan averaged 2.46 percent from 1961 until 2019, reaching an all time high of 67.63 percent in March of 1972 and a record low of -43.96 percent in September of 2007.