JR Ou Main Line Apartment market overview

The average price of a sq.m Apartment of JR Ou Main Line (Hirosaki to Aomori), in Jan, 2016 to Dec, 2016 was 197,079 JPY/sq.m. The market value represents an increase of 11,207 JPY (+6.0%) compared to 1 year ago and a transition to a strong market. 43 properties exchanged hands ( The market value represents an increase of 7 (+19.4%) compared to 1 year ago and a transition to a bull market.).

The average age of the real estate was 21.1 years old (a -3.8% decrease compared to the 22.0 years old of last year.). The average size of the real estate was 58.5 sq.m (a -4.7% decrease compared to the 61.4 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively new buildings under 20 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 10% compared to last year. The most dramatic price increase was at Hirosaki station, where prices have increased +12.7% compared to last year; a sq.m unit now costs 199,034 JPY/sq.m.

The top 1 stations has seen prices increase +12.7% (+22,412 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +3.1% (+5,978 JPY/sq.m).


Cause of price increases

  • An decrease in transactions involving relatively old buildings under 40 years old (representing 72.7% of total transactions in 2015 and 60.5% of total transactions in 2016)

Causes of price decreases

  • An increase in average distance from the station (representing 16.2 min in 2015 and 18.1 min in 2016; +12.2%)

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 199,034 JPY/sq.m. The market value represents an increase of 22,412 JPY (+12.7%) compared to 1 year ago and a transition to a bull market. 16 properties exchanged hands ( The market value represents an increase of 5 (+45.5%) 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 195,920 JPY/sq.m. The market value represents an increase of 5,978 JPY (+3.1%) compared to 1 year ago and a transition to a some market. 27 properties exchanged hands ( The market value represents an increase of 2 (+8.0%) compared to 1 year ago and a transition to a strong market.).

JR Ou Main Line (Stations Apartment market overview)
JR Ou Main LineThis year(2016)1 year ago2 years ago
Hirosaki199,034 JPY (21.7Y/61.6sq.m)176,621 JPY (19.7Y/58.2sq.m)182,099 JPY (21.1Y/58.3sq.m)
Shin-Aomori---
Aomori195,920 JPY (20.8Y/56.7sq.m)189,942 JPY (22.7Y/62.8sq.m)241,243 JPY (22.3Y/54.7sq.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

Hirosaki199,034 JPY/sq.m (+13% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 199,034 JPY/sq.m. The market value represents an increase of 22,412 JPY (+12.7%) compared to 1 year ago and a transition to a bull market. 16 properties exchanged hands ( The market value represents an increase of 5 (+45.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.7 years old (a +10.5% increase compared to the 19.7 years old of last year.). The average size of the real estate was 61.6 sq.m (a +5.8% increase compared to the 58.2 sq.m of last year.).

Causes of price decreases

  • An increase in average age of the building (representing 19.7 years old in 2015 and 21.7 years old in 2016; +10.5%)
  • A dramatic increase in average distance from the station (representing 12.1 min in 2015 and 14.8 min in 2016; +22.0%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 62.5% of total transactions in 2015 and 68.8% of total transactions in 2016)

Aomori195,920 JPY/sq.m (+3% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 195,920 JPY/sq.m. The market value represents an increase of 5,978 JPY (+3.1%) compared to 1 year ago and a transition to a some market. 27 properties exchanged hands ( The market value represents an increase of 2 (+8.0%) compared to 1 year ago and a transition to a strong market.).

The average age of the real estate was 20.8 years old (a -8.4% decrease compared to the 22.7 years old of last year.). The average size of the real estate was 56.7 sq.m (a -9.8% decrease compared to the 62.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 76.0% of total transactions in 2015 and 55.6% of total transactions in 2016)

Causes of price decreases

  • An increase in average distance from the station (representing 18.0 min in 2015 and 20.1 min in 2016; +12.2%)
  • A some decrease in transactions involving locations near to the station less than three minutes by foot from the station (representing 8.0% of total transactions in 2015 and 7.4% of total transactions in 2016)

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)