Apr 16, 2013. /Lesprom Network/. Housing starts in Japan increased at a slower pace in February, marking the fourth month of reduced growth. Housing starts rose 3% in February 2013 compared to levels in the same month in 2012, ITTO reports. 

Despite the decline in the pace of growth February figures were better than the expected 2% decline but worse than the 5% year on year rise in housing starts reported in January this year.

The better than expected numbers were the result of improved consumer sentiment, low interest rates and firm demand as home owners try to beat the planned sales tax increase due some time next year.

Major house builders reported that orders in February rose over 16% compared to February 2012.