JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jul, 2014 to Sep, 2014 was 19,462 JPY/sq.m. The market value represents a decrease of 5,636 JPY (-22.5%) compared to 1 year ago and a transition to a dramatic market. 38 properties exchanged hands ( The market value represents a decrease of 14 (-26.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 535.0 sq.m (a +25.9% increase compared to the 424.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving very large size more than 200 sq.m.

1 stations have experienced increased prices; 4 stations have experienced decreased prices. Market value of most stations decreased. Ichinoseki station has seen a price increase of over 5% compared to last year. The most dramatic price increase was at Ichinoseki station, where prices have increased +7.9% compared to last year; a sq.m unit now costs 25,221 JPY/sq.m.

The top 1 stations has seen prices increase +7.9% (+1,843 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -83.2% (-30,258 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 1.9% of total transactions in 2013 and 2.6% of total transactions in 2014)

Causes of price decreases

  • An increase in average distance from the station (representing 21.4 min in 2013 and 25.5 min in 2014; +19.4%)

Breakdown of each segment

The table below shows Land dealt in JR Ōfunato 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

Land stations market overview

The average price of a sq.m Land of Sakari, the highest market value along this railway was 26,840 JPY/sq.m. The market value represents a decrease of 5,331 JPY (-16.6%) compared to 1 year ago and a transition to a weak market. 9 properties exchanged hands ( The market value represents a decrease of 2 (-18.2%) compared to 1 year ago and a transition to a weak market.).

The average price of a sq.m Land of Rikuchuukannzaki, the lowest market value along this railway was 4,603 JPY/sq.m. The market value represents a decrease of 9,325 JPY (-67.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2014)1 year ago2 years ago
Ichinoseki25,221 JPY (0.0Y/539.1sq.m)23,378 JPY (0.0Y/381.5sq.m)23,666 JPY (0.0Y/441.6sq.m)
Mataki10,000 JPY (0.0Y/1700.0sq.m)-16,500 JPY (0.0Y/400.0sq.m)
Rikuchuukannzaki4,603 JPY (0.0Y/600.0sq.m)13,928 JPY (0.0Y/280.0sq.m)11,785 JPY (0.0Y/280.0sq.m)
Iwanoshita---
Rikuchuumatsukawa---
Geibikei--2,187 JPY (0.0Y/640.0sq.m)
Shibajuku-12,142 JPY (0.0Y/280.0sq.m)5,031 JPY (0.0Y/506.7sq.m)
Surisawa10,778 JPY (0.0Y/385.0sq.m)--
Sennmaya6,105 JPY (0.0Y/880.0sq.m)36,363 JPY (0.0Y/330.0sq.m)10,360 JPY (0.0Y/340.0sq.m)
Konashi---
Orikabe-11,000 JPY (0.0Y/600.0sq.m)-
Niitsuki-4,387 JPY (0.0Y/980.0sq.m)-
Takekoma11,940 JPY (0.0Y/345.0sq.m)--
Rikuzenntakata23,771 JPY (0.0Y/376.7sq.m)--
Wakinosawa9,090 JPY (0.0Y/330.0sq.m)--
Otomo7,575 JPY (0.0Y/330.0sq.m)--
Hosoura-14,355 JPY (0.0Y/530.0sq.m)13,529 JPY (0.0Y/1700.0sq.m)
Shimofunato-22,424 JPY (0.0Y/165.0sq.m)35,714 JPY (0.0Y/387.5sq.m)
Oofunato25,384 JPY (0.0Y/1300.0sq.m)32,410 JPY (0.0Y/301.4sq.m)20,604 JPY (0.0Y/573.8sq.m)
Sakari26,840 JPY (0.0Y/405.6sq.m)32,171 JPY (0.0Y/579.1sq.m)18,423 JPY (0.0Y/523.3sq.m)
*Average unit prices per sq.m of Land 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

Ichinoseki25,221 JPY/sq.m (+8% compared with the previous year)

The average price of a sq.m Land of Ichinoseki was 25,221 JPY/sq.m. The market value represents an increase of 1,843 JPY (+7.9%) compared to 1 year ago and a transition to a strong market. 11 properties exchanged hands ( The market value represents a decrease of 15 (-57.7%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 539.1 sq.m (a +41.3% increase compared to the 381.5 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 27.9 min in 2013 and 34.5 min in 2014; +23.6%)

Sennmaya6,105 JPY/sq.m (-83% compared with the previous year)

The average price of a sq.m Land of Sennmaya was 6,105 JPY/sq.m. The market value represents a decrease of 30,258 JPY (-83.2%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 2 (+200.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 880.0 sq.m (a +166.7% increase compared to the 330.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 24.0 min in 2013 and 35.7 min in 2014; +48.6%)

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)