JR Ou Main Line Apartment market overview

The average price of a sq.m Apartment of JR Ou Main Line (Hirosaki to Aomori), in Oct, 2014 to Dec, 2014 was 159,921 JPY/sq.m. The market value represents a decrease of 36,364 JPY (-18.5%) compared to 1 year ago and a transition to a weak market. 7 properties exchanged hands ( The market value represents a decrease of 7 (-50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 22.0 years old (a +21.4% increase compared to the 18.1 years old of last year.). The average size of the real estate was 53.6 sq.m (a -17.6% decrease compared to the 65.0 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving nearly new buildings under 3 years old.

1 stations have experienced increased prices; 1 stations have experienced decreased prices. Market value of most stations decreased. Hirosaki station has seen a price increase of over 5% compared to last year. The most dramatic price increase was at Hirosaki station, where prices have increased +9.9% compared to last year; a sq.m unit now costs 236,588 JPY/sq.m.

The top 1 stations has seen prices increase +9.9% (+21,272 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -30.4% (-56,458 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 7.7% of total transactions in 2013 and 20.0% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 18.1 years old in 2013 and 22.0 years old in 2014; +21.4%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 61.5% of total transactions in 2013 and 80.0% 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 Hirosaki, the highest market value along this railway was 236,588 JPY/sq.m. The market value represents an increase of 21,272 JPY (+9.9%) compared to 1 year ago and a transition to a strong market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Aomori, the lowest market value along this railway was 129,254 JPY/sq.m. The market value represents a decrease of 56,458 JPY (-30.4%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 4 (-44.4%) 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
Hirosaki236,588 JPY (14.3Y/55.0sq.m)215,316 JPY (14.8Y/69.0sq.m)128,333 JPY (23.4Y/55.0sq.m)
Shin-Aomori---
Aomori129,254 JPY (27.2Y/53.0sq.m)185,712 JPY (19.6Y/62.8sq.m)200,281 JPY (14.3Y/60.7sq.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

Hirosaki236,588 JPY/sq.m (+10% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 236,588 JPY/sq.m. The market value represents an increase of 21,272 JPY (+9.9%) compared to 1 year ago and a transition to a strong market. 2 properties exchanged hands ( The market value represents a decrease of 3 (-60.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 14.3 years old (a -3.7% decrease compared to the 14.8 years old of last year.). The average size of the real estate was 55.0 sq.m (a -20.3% decrease compared to the 69.0 sq.m of last year.).

Cause of price increases

  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 25.0% of total transactions in 2013 and 50.0% of total transactions in 2014)

Aomori129,254 JPY/sq.m (-30% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 129,254 JPY/sq.m. The market value represents a decrease of 56,458 JPY (-30.4%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 4 (-44.4%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 27.2 years old (a +38.6% increase compared to the 19.6 years old of last year.). The average size of the real estate was 53.0 sq.m (a -15.6% decrease compared to the 62.8 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 19.6 years old in 2013 and 27.2 years old in 2014; +38.6%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 66.7% of total transactions in 2013 and 100.0% 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)