JR Tohoku Main Line Apartment market overview

The average price of a sq.m Apartment of JR Tohoku Main Line (Iwanuma to Iwakiri), in Apr, 2013 to Jun, 2013 was 254,477 JPY/sq.m. The market value represents an increase of 48,069 JPY (+23.3%) compared to 1 year ago and a transition to a dramatic market. 35 properties exchanged hands ( The market value represents a decrease of 5 (-12.5%) compared to 1 year ago and a transition to a weak market.).

The average age of the real estate was 16.5 years old (a -6.0% decrease compared to the 17.6 years old of last year.). The average size of the real estate was 65.6 sq.m (a +0.5% increase compared to the 65.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations less than ten minutes by foot from the station, as well as a dramatic increase in transactions involving relatively new buildings under 20 years old.

4 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Taishidou, Nagamachi, Sendai station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Taishidou station, where prices have increased +73.3% compared to last year; a sq.m unit now costs 285,664 JPY/sq.m.

The top 1 stations has seen prices increase +73.3% (+120,818 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -21.0% (-64,544 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 20.2 min in 2012 and 16.6 min in 2013; -17.9%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 40.0% of total transactions in 2012 and 26.7% of total transactions in 2013)
  • An increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 5.1% of total transactions in 2012 and 5.7% of total transactions in 2013)

Causes of price decreases

  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 17.9% of total transactions in 2012 and 11.4% of total transactions in 2013)
  • A dramatic decrease in transactions involving recently constructed buildings under 6 years old (representing 7.5% of total transactions in 2012 and 3.3% of total transactions in 2013)

Breakdown of each segment

The table below shows Apartment dealt in JR Tohoku 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 Taishidou, the highest market value along this railway was 285,664 JPY/sq.m. The market value represents an increase of 120,818 JPY (+73.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 1 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Minamisenndai, the lowest market value along this railway was 231,956 JPY/sq.m. The market value represents an increase of 37,126 JPY (+19.1%) compared to 1 year ago and a transition to a bull market. 7 properties exchanged hands (It was the same as last year.).

JR Tohoku Main Line (Stations Apartment market overview)
JR Tohoku Main LineThis year(2013)1 year ago2 years ago
Iwanuma---
Minamisenndai231,956 JPY (17.3Y/66.4sq.m)194,830 JPY (14.1Y/72.1sq.m)115,423 JPY (19.0Y/67.1sq.m)
Taishidou285,664 JPY (13.9Y/60.0sq.m)164,846 JPY (18.0Y/53.8sq.m)201,904 JPY (12.5Y/69.2sq.m)
Nagamachi246,808 JPY (15.8Y/61.4sq.m)205,555 JPY (16.6Y/73.3sq.m)196,199 JPY (17.6Y/71.7sq.m)
Sendai264,798 JPY (18.5Y/65.7sq.m)208,463 JPY (19.6Y/63.3sq.m)209,044 JPY (16.5Y/76.0sq.m)
Higashisenndai242,122 JPY (9.9Y/78.3sq.m)306,666 JPY (6.8Y/75.0sq.m)156,399 JPY (15.0Y/70.0sq.m)
Iwakiri---
*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

Taishidou285,664 JPY/sq.m (+73% compared with the previous year)

The average price of a sq.m Apartment of Taishidou was 285,664 JPY/sq.m. The market value represents an increase of 120,818 JPY (+73.3%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents a decrease of 1 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 13.9 years old (a -22.7% decrease compared to the 18.0 years old of last year.). The average size of the real estate was 60.0 sq.m (a +11.6% increase compared to the 53.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 18.0 years old in 2012 and 13.9 years old in 2013; -22.7%)
  • A dramatic decrease in average distance from the station (representing 15.5 min in 2012 and 5.0 min in 2013; -67.7%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 25.0% of total transactions in 2012 and 33.3% of total transactions in 2013)

Higashisenndai242,122 JPY/sq.m (-21% compared with the previous year)

The average price of a sq.m Apartment of Higashisenndai was 242,122 JPY/sq.m. The market value represents a decrease of 64,544 JPY (-21.0%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 1 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 9.9 years old (a +46.9% increase compared to the 6.8 years old of last year.). The average size of the real estate was 78.3 sq.m (a +4.4% increase compared to the 75.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 6.8 years old in 2012 and 9.9 years old in 2013; +46.9%)
  • A dramatic increase in average distance from the station (representing 2.5 min in 2012 and 8.3 min in 2013; +233.3%)

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)