Japan mortgage totals surpass JPY 21 trillion for first time in three years says Japan Housing Finance Agency
- Adam German
- Aug 18
- 1 min read
The Japan Housing Finance Agency (JHF) announced on August 15th the results of its survey on new mortgage lending and outstanding balances by financial institution type for fiscal 2024.
While not outlined specifically in the JHF report, FY2024 is assumed to be from April, 2024 to March 2025.
New mortgage lending at major financial institutions totaled ¥21.9436 trillion, up 5.1% year-on-year, surpassing the ¥21 trillion mark for the first time in three years.
Graph courtesy of the JHF, edited by Patience Realty.
Lending in the ¥20 trillion range has now continued for nine consecutive years.
By institution type, regular banks accounted for ¥17.5 trillion (up 7.3%), credit unions ¥1.5 trillion (down 6.2%), labour banks ¥1.6 trillion (up 14.2%), and the JHF's Flat 35 home loan printing ¥800 billion (down 11.1%).
What is a labour bank? From Wikipedia, “A Labour Bank (労働金庫), or Rōkin (ろうきん) is an organization akin to a credit union in Japan. There are currently 13 Labour Banks, which are united in the National Association of Labour Banks. Read more about Labour Banks in Japan here.
Graph courtesy of the JHF, edited by Patience Realty.
Outstanding mortgage balances at the end of the fiscal year stood at ¥227.1743 trillion, a 2.7% increase from the previous year.
Further Reading:
JHF FY 2024 New & Outstanding Mortgage Trends Report (Japanese only)
National Association of Labour Banks 2024 Annual Report (English only)
Source:
R.E. Port News (Japanese only)
