JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jan, 2016 to Mar, 2016 was 20,952 JPY/sq.m. The market value represents an increase of 1,611 JPY (+8.3%) compared to 1 year ago and a transition to a strong market. 32 properties exchanged hands ( The market value represents a decrease of 7 (-17.9%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 405.2 sq.m (a -11.4% decrease compared to the 457.2 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.

5 stations have experienced increased prices; 4 stations have experienced decreased prices. Market value of most stations decreased. Rikuzenntakata, Otomo, Sakari station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Rikuzenntakata station, where prices have increased +75.6% compared to last year; a sq.m unit now costs 20,026 JPY/sq.m.

The top 2 stations has seen prices increase +61.3% (+6,164 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -67.3% (-16,233 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.6% of total transactions in 2015 and 3.1% of total transactions in 2016)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 21.4 min in 2015 and 26.2 min in 2016; +22.9%)

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 Ichinoseki, the highest market value along this railway was 29,282 JPY/sq.m. The market value represents an increase of 1,102 JPY (+3.9%) compared to 1 year ago and a transition to a some market. 10 properties exchanged hands ( The market value represents a decrease of 4 (-28.6%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Takekoma, the lowest market value along this railway was 5,250 JPY/sq.m. The market value represents a decrease of 3,462 JPY (-39.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 3 (-75.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Ōfunato Line (Stations Land market overview)
JR Ōfunato LineThis year(2016)1 year ago2 years ago
Ichinoseki29,282 JPY (0.0Y/344.5sq.m)28,180 JPY (0.0Y/529.6sq.m)26,270 JPY (0.0Y/525.0sq.m)
Mataki-1,727 JPY (0.0Y/1100.0sq.m)-
Rikuchuukannzaki---
Iwanoshita---
Rikuchuumatsukawa---
Geibikei---
Shibajuku---
Surisawa-4,210 JPY (0.0Y/950.0sq.m)-
Sennmaya5,673 JPY (0.0Y/370.0sq.m)13,939 JPY (0.0Y/330.0sq.m)-
Konashi---
Orikabe---
Niitsuki---
Takekoma5,250 JPY (0.0Y/1200.0sq.m)8,712 JPY (0.0Y/330.0sq.m)-
Rikuzenntakata20,026 JPY (0.0Y/315.0sq.m)11,407 JPY (0.0Y/260.0sq.m)-
Wakinosawa7,942 JPY (0.0Y/275.0sq.m)32,142 JPY (0.0Y/280.0sq.m)-
Otomo11,587 JPY (0.0Y/355.0sq.m)7,878 JPY (0.0Y/330.0sq.m)-
Hosoura13,333 JPY (0.0Y/330.0sq.m)12,303 JPY (0.0Y/330.0sq.m)15,757 JPY (0.0Y/330.0sq.m)
Shimofunato---
Oofunato28,844 JPY (0.0Y/422.5sq.m)40,000 JPY (0.0Y/112.5sq.m)27,321 JPY (0.0Y/383.3sq.m)
Sakari22,504 JPY (0.0Y/582.5sq.m)16,147 JPY (0.0Y/610.0sq.m)25,558 JPY (0.0Y/754.0sq.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

Rikuzenntakata20,026 JPY/sq.m (+76% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 20,026 JPY/sq.m. The market value represents an increase of 8,620 JPY (+75.6%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 2 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 315.0 sq.m (a +21.2% increase compared to the 260.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 18.0 min in 2015 and 12.5 min in 2016; -30.6%)

Otomo11,587 JPY/sq.m (+47% compared with the previous year)

The average price of a sq.m Land of Otomo was 11,587 JPY/sq.m. The market value represents an increase of 3,709 JPY (+47.1%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 2 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 355.0 sq.m (a +7.6% increase compared to the 330.0 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 45.0 min in 2015 and 37.5 min in 2016; -16.7%)

Wakinosawa7,942 JPY/sq.m (-75% compared with the previous year)

The average price of a sq.m Land of Wakinosawa was 7,942 JPY/sq.m. The market value represents a decrease of 24,200 JPY (-75.3%) 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.).

The average size of the real estate was 275.0 sq.m (a -1.8% decrease compared to the 280.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 4.0 min in 2015 and 24.5 min in 2016; +512.5%)

Sennmaya5,673 JPY/sq.m (-59% compared with the previous year)

The average price of a sq.m Land of Sennmaya was 5,673 JPY/sq.m. The market value represents a decrease of 8,266 JPY (-59.3%) 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.).

The average size of the real estate was 370.0 sq.m (a +12.1% 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 18.0 min in 2015 and 60.0 min in 2016; +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)