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, 2017 to Mar, 2017 was 244,838 JPY/sq.m. The market value represents an increase of 47,760 JPY (+24.2%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 39 (-90.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 15.3 years old (a -27.8% decrease compared to the 21.1 years old of last year.). The average size of the real estate was 66.2 sq.m (a +13.3% increase compared to the 58.5 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. Aomori 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 +45.1% compared to last year; a sq.m unit now costs 284,286 JPY/sq.m.

The top 1 stations has seen prices increase +45.1% (+88,365 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +3.2% (+6,358 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average age of the building (representing 21.1 years old in 2016 and 15.3 years old in 2017; -27.8%)
  • A dramatic decrease in average distance from the station (representing 18.1 min in 2016 and 8.2 min in 2017; -54.5%)
  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 7.0% of total transactions in 2016 and 25.0% of total transactions in 2017)

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 284,286 JPY/sq.m. The market value represents an increase of 88,365 JPY (+45.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 25 (-92.6%) 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 205,392 JPY/sq.m. The market value represents an increase of 6,358 JPY (+3.2%) compared to 1 year ago and a transition to a some market. 2 properties exchanged hands ( The market value represents a decrease of 14 (-87.5%) 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(2017)1 year ago2 years ago
Hirosaki205,392 JPY (19.0Y/72.5sq.m)199,034 JPY (21.7Y/61.6sq.m)176,621 JPY (19.7Y/58.2sq.m)
Shin-Aomori---
Aomori284,286 JPY (11.5Y/60.0sq.m)195,920 JPY (20.8Y/56.7sq.m)189,942 JPY (22.7Y/62.8sq.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

Aomori284,286 JPY/sq.m (+45% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 284,286 JPY/sq.m. The market value represents an increase of 88,365 JPY (+45.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 25 (-92.6%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 11.5 years old (a -44.7% decrease compared to the 20.8 years old of last year.). The average size of the real estate was 60.0 sq.m (a +5.9% increase compared to the 56.7 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 20.8 years old in 2016 and 11.5 years old in 2017; -44.7%)
  • A dramatic decrease in average distance from the station (representing 20.1 min in 2016 and 6.5 min in 2017; -67.7%)
  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 7.4% of total transactions in 2016 and 50.0% of total transactions in 2017)

Hirosaki205,392 JPY/sq.m (+3% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 205,392 JPY/sq.m. The market value represents an increase of 6,358 JPY (+3.2%) compared to 1 year ago and a transition to a some market. 2 properties exchanged hands ( The market value represents a decrease of 14 (-87.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 19.0 years old (a -12.4% decrease compared to the 21.7 years old of last year.). The average size of the real estate was 72.5 sq.m (a +17.8% increase compared to the 61.6 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 21.7 years old in 2016 and 19.0 years old in 2017; -12.4%)
  • A dramatic decrease in average distance from the station (representing 14.8 min in 2016 and 10.0 min in 2017; -32.2%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 68.8% of total transactions in 2016 and 50.0% of total transactions in 2017)

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)