JR Ou Main Line Apartment market overview

The average price of a sq.m Apartment of JR Ou Main Line (Hirosaki to Aomori), in Jul, 2014 to Sep, 2014 was 357,791 JPY/sq.m. The market value represents an increase of 193,927 JPY (+118.3%) compared to 1 year ago and a transition to a dramatic market. 8 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 19.0 years old (a -7.5% decrease compared to the 20.6 years old of last year.). The average size of the real estate was 55.6 sq.m (a +17.1% increase compared to the 47.5 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving new buildings under 10 years old.

2 stations have experienced increased prices; 0 stations have experienced decreased prices. The overall trend was toward increased prices. Hirosaki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Aomori station, where prices have increased +103.3% compared to last year; a sq.m unit now costs 400,269 JPY/sq.m.

The top 1 stations has seen prices increase +103.3% (+203,344 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +76.1% (+99,554 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.1 min in 2013 and 12.8 min in 2014; -29.7%)
  • An decrease in transactions involving relatively old buildings under 40 years old (representing 75.0% of total transactions in 2013 and 62.5% of total transactions in 2014)

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 400,269 JPY/sq.m. The market value represents an increase of 203,344 JPY (+103.3%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 2 (+50.0%) 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 230,357 JPY/sq.m. The market value represents an increase of 99,554 JPY (+76.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Ou Main Line (Stations Apartment market overview)
JR Ou Main LineThis year(2014)1 year ago2 years ago
Hirosaki230,357 JPY (17.5Y/75.0sq.m)130,803 JPY (24.6Y/40.0sq.m)194,894 JPY (17.2Y/73.3sq.m)
Shin-Aomori---
Aomori400,269 JPY (19.5Y/49.2sq.m)196,925 JPY (16.6Y/55.0sq.m)118,014 JPY (25.8Y/58.8sq.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

Aomori400,269 JPY/sq.m (+103% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 400,269 JPY/sq.m. The market value represents an increase of 203,344 JPY (+103.3%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents an increase of 2 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 19.5 years old (a +18.0% increase compared to the 16.6 years old of last year.). The average size of the real estate was 49.2 sq.m (a -10.6% decrease compared to the 55.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 21.2 min in 2013 and 14.5 min in 2014; -31.8%)

Causes of price decreases

  • An increase in average age of the building (representing 16.6 years old in 2013 and 19.5 years old in 2014; +18.0%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 50.0% of total transactions in 2013 and 66.7% of total transactions in 2014)

Hirosaki230,357 JPY/sq.m (+76% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 230,357 JPY/sq.m. The market value represents an increase of 99,554 JPY (+76.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 2 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 17.5 years old (a -28.8% decrease compared to the 24.6 years old of last year.). The average size of the real estate was 75.0 sq.m (a +87.5% increase compared to the 40.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 24.6 years old in 2013 and 17.5 years old in 2014; -28.8%)
  • A dramatic decrease in average distance from the station (representing 15.0 min in 2013 and 7.5 min in 2014; -50.0%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2013 and 50.0% of total transactions in 2014)

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)