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, 2015 to Sep, 2015 was 157,019 JPY/sq.m. The market value represents a decrease of 200,772 JPY (-56.1%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents an increase of 4 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 23.8 years old (a +25.1% increase compared to the 19.0 years old of last year.). The average size of the real estate was 56.2 sq.m (a +1.1% increase compared to the 55.6 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

0 stations have experienced increased prices; 2 stations have experienced decreased prices. The market value decreased in all stations.

The top 1 stations has seen prices increase -56.9% (-227,846 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -65.3% (-150,358 JPY/sq.m).


Causes of price decreases

  • A dramatic increase in average age of the building (representing 19.0 years old in 2014 and 23.8 years old in 2015; +25.1%)
  • A dramatic increase in average distance from the station (representing 12.8 min in 2014 and 15.9 min in 2015; +24.8%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 62.5% of total transactions in 2014 and 80.0% of total transactions in 2015)

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 172,423 JPY/sq.m. The market value represents a decrease of 227,846 JPY (-56.9%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 4 (+66.7%) 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 80,000 JPY/sq.m. The market value represents a decrease of 150,358 JPY (-65.3%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

JR Ou Main Line (Stations Apartment market overview)
JR Ou Main LineThis year(2015)1 year ago2 years ago
Hirosaki80,000 JPY (0.0Y/45.0sq.m)230,357 JPY (17.5Y/75.0sq.m)130,803 JPY (24.6Y/40.0sq.m)
Shin-Aomori---
Aomori172,423 JPY (23.8Y/58.5sq.m)400,269 JPY (19.5Y/49.2sq.m)196,925 JPY (16.6Y/55.0sq.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

Aomori172,423 JPY/sq.m (-57% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 172,423 JPY/sq.m. The market value represents a decrease of 227,846 JPY (-56.9%) compared to 1 year ago and a transition to a dramatic market. 10 properties exchanged hands ( The market value represents an increase of 4 (+66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 23.8 years old (a +21.9% increase compared to the 19.5 years old of last year.). The average size of the real estate was 58.5 sq.m (a +19.0% increase compared to the 49.2 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 19.5 years old in 2014 and 23.8 years old in 2015; +21.9%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 66.7% of total transactions in 2014 and 80.0% of total transactions in 2015)

Hirosaki80,000 JPY/sq.m (-65% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 80,000 JPY/sq.m. The market value represents a decrease of 150,358 JPY (-65.3%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 45.0 sq.m (a -40.0% decrease compared to the 75.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 7.5 min in 2014 and 16.0 min in 2015; +113.3%)

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)