Japan housing market a rare bright spot amid stalling growth

Tokyo

JAPAN'S housing market is likely to moderate after investment grew at its fastest in five years in April-June, but the benefits to consumer spending and employment could continue into next year due to the Bank of Japan's (BOJ) negative interest rates.

While the BOJ courted controversy by pushing rates below zero this year, putting banks offside in particular, the policy has proven a hit with first-time home buyers and homeowners looking to refinance mortgages.