JR Ōfunato Line Land market overview

The average price of a sq.m Land of JR Ōfunato Line (Ichinoseki to Sakari), in Jul, 2016 to Sep, 2016 was 19,713 JPY/sq.m. The market value represents an increase of 1,332 JPY (+7.2%) compared to 1 year ago and a transition to a strong market. 20 properties exchanged hands ( The market value represents a decrease of 37 (-64.9%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 524.5 sq.m (a +37.4% increase compared to the 381.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

3 stations have experienced increased prices; 3 stations have experienced decreased prices. Market value of most stations decreased. Ichinoseki, Rikuzenntakata 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 +48.5% compared to last year; a sq.m unit now costs 11,794 JPY/sq.m.

The top 2 stations has seen prices increase +42.1% (+6,311 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -19.4% (-4,546 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in average distance from the station (representing 26.8 min in 2015 and 19.6 min in 2016; -27.1%)

Causes of price decreases

  • A some decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 5.3% of total transactions in 2015 and 5.0% of total transactions in 2016)

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 33,366 JPY/sq.m. The market value represents an increase of 8,769 JPY (+35.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 17 (-77.3%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Otomo, the lowest market value along this railway was 7,272 JPY/sq.m. The market value represents a decrease of 862 JPY (-10.6%) compared to 1 year ago and a transition to a weak market. 1 properties exchanged hands ( The market value represents a decrease of 14 (-93.3%) 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
Ichinoseki33,366 JPY (0.0Y/560.0sq.m)24,597 JPY (0.0Y/485.5sq.m)25,221 JPY (0.0Y/539.1sq.m)
Mataki--10,000 JPY (0.0Y/1700.0sq.m)
Rikuchuukannzaki10,000 JPY (0.0Y/45.0sq.m)11,904 JPY (0.0Y/420.0sq.m)4,603 JPY (0.0Y/600.0sq.m)
Iwanoshita-6,000 JPY (0.0Y/80.0sq.m)-
Rikuchuumatsukawa---
Geibikei---
Shibajuku---
Surisawa--10,778 JPY (0.0Y/385.0sq.m)
Sennmaya10,256 JPY (0.0Y/390.0sq.m)9,246 JPY (0.0Y/300.0sq.m)6,105 JPY (0.0Y/880.0sq.m)
Konashi---
Orikabe---
Niitsuki---
Takekoma-7,363 JPY (0.0Y/1100.0sq.m)11,940 JPY (0.0Y/345.0sq.m)
Rikuzenntakata11,794 JPY (0.0Y/348.8sq.m)7,941 JPY (0.0Y/340.0sq.m)23,771 JPY (0.0Y/376.7sq.m)
Wakinosawa5,882 JPY (0.0Y/170.0sq.m)-9,090 JPY (0.0Y/330.0sq.m)
Otomo7,272 JPY (0.0Y/330.0sq.m)8,134 JPY (0.0Y/321.3sq.m)7,575 JPY (0.0Y/330.0sq.m)
Hosoura13,333 JPY (0.0Y/1165.0sq.m)13,333 JPY (0.0Y/330.0sq.m)-
Shimofunato-28,787 JPY (0.0Y/330.0sq.m)-
Oofunato-25,938 JPY (0.0Y/220.0sq.m)25,384 JPY (0.0Y/1300.0sq.m)
Sakari24,419 JPY (0.0Y/697.5sq.m)31,608 JPY (0.0Y/220.8sq.m)26,840 JPY (0.0Y/405.6sq.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

Rikuzenntakata11,794 JPY/sq.m (+49% compared with the previous year)

The average price of a sq.m Land of Rikuzenntakata was 11,794 JPY/sq.m. The market value represents an increase of 3,852 JPY (+48.5%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents an increase of 3 (+300.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 348.8 sq.m (a +2.6% increase compared to the 340.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 28.0 min in 2015 and 18.5 min in 2016; -33.9%)

Ichinoseki33,366 JPY/sq.m (+36% compared with the previous year)

The average price of a sq.m Land of Ichinoseki was 33,366 JPY/sq.m. The market value represents an increase of 8,769 JPY (+35.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 17 (-77.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 560.0 sq.m (a +15.4% increase compared to the 485.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 32.4 min in 2015 and 20.4 min in 2016; -37.1%)

Sakari24,419 JPY/sq.m (-23% compared with the previous year)

The average price of a sq.m Land of Sakari was 24,419 JPY/sq.m. The market value represents a decrease of 7,189 JPY (-22.7%) compared to 1 year ago and a transition to a dramatic market. 4 properties exchanged hands ( The market value represents a decrease of 2 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 697.5 sq.m (a +215.8% increase compared to the 220.8 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 25.3 min in 2015 and 18.2 min in 2016; -28.0%)

Rikuchuukannzaki10,000 JPY/sq.m (-16% compared with the previous year)

The average price of a sq.m Land of Rikuchuukannzaki was 10,000 JPY/sq.m. The market value represents a decrease of 1,904 JPY (-16.0%) compared to 1 year ago and a transition to a weak market. 1 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 45.0 sq.m (a -89.3% decrease compared to the 420.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 30.0 min in 2015 and 60.0 min in 2016; +100.0%)

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)