JR Ou Main Line Apartment market overview

The average price of a sq.m Apartment of JR Ou Main Line (Hirosaki to Aomori), in Apr, 2013 to Jun, 2013 was 158,155 JPY/sq.m. The market value represents a decrease of 37,337 JPY (-19.1%) compared to 1 year ago and a transition to a weak market. 20 properties exchanged hands ( The market value represents an increase of 6 (+42.9%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 22.7 years old (a +47.0% increase compared to the 15.4 years old of last year.). The average size of the real estate was 56.2 sq.m (a -11.0% decrease compared to the 63.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

1 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased.

The top 1 stations has seen prices increase +0.1% (+152 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -28.5% (-58,772 JPY/sq.m).


Causes of price decreases

  • A dramatic increase in average age of the building (representing 15.4 years old in 2012 and 22.7 years old in 2013; +47.0%)
  • An increase in average distance from the station (representing 14.9 min in 2012 and 16.6 min in 2013; +11.7%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 53.8% of total transactions in 2012 and 85.0% of total transactions in 2013)

Breakdown of each segment

The table below shows Apartment dealt in JR Ou Main Line, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

Top

Apartment stations market overview

The average price of a sq.m Apartment of Aomori, the highest market value along this railway was 168,887 JPY/sq.m. The market value represents an increase of 152 JPY (+0.1%) compared to 1 year ago and a transition to a slight market. 10 properties exchanged hands ( The market value represents an increase of 6 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Hirosaki, the lowest market value along this railway was 147,424 JPY/sq.m. The market value represents a decrease of 58,772 JPY (-28.5%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands (It was the same as last year.).

JR Ou Main Line (Stations Apartment market overview)
JR Ou Main LineThis year(2013)1 year ago2 years ago
Hirosaki147,424 JPY (24.0Y/61.0sq.m)206,196 JPY (14.1Y/63.0sq.m)130,000 JPY (23.8Y/45.0sq.m)
Shin-Aomori---
Aomori168,887 JPY (21.4Y/51.5sq.m)168,734 JPY (20.0Y/63.8sq.m)284,027 JPY (3.4Y/79.2sq.m)
*Average unit prices per sq.m of Apartment at each train station were calculated using the Utinokati database of actual market sales prices (based on surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism of Japan). Units: JPY (Japanese Yen); parenthesis contain average age in years of building / equivalent measurement of area of real estate.
Top

Noteworthy stations

Aomori168,887 JPY/sq.m (+0% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 168,887 JPY/sq.m. The market value represents an increase of 152 JPY (+0.1%) compared to 1 year ago and a transition to a slight market. 10 properties exchanged hands ( The market value represents an increase of 6 (+150.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.4 years old (a +7.0% increase compared to the 20.0 years old of last year.). The average size of the real estate was 51.5 sq.m (a -19.2% decrease compared to the 63.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 25.0 min in 2012 and 19.1 min in 2013; -23.6%)

Causes of price decreases

  • An increase in transactions involving relatively old buildings under 40 years old (representing 66.7% of total transactions in 2012 and 80.0% of total transactions in 2013)

Hirosaki147,424 JPY/sq.m (-29% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 147,424 JPY/sq.m. The market value represents a decrease of 58,772 JPY (-28.5%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 24.0 years old (a +70.4% increase compared to the 14.1 years old of last year.). The average size of the real estate was 61.0 sq.m (a -3.2% decrease compared to the 63.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 14.1 years old in 2012 and 24.0 years old in 2013; +70.4%)
  • A dramatic increase in average distance from the station (representing 10.8 min in 2012 and 14.1 min in 2013; +30.6%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2012 and 90.0% of total transactions in 2013)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (http://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)