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, 2016 to Sep, 2016 was 206,751 JPY/sq.m. The market value represents an increase of 20,879 JPY (+11.2%) compared to 1 year ago and a transition to a bull market. 27 properties exchanged hands ( The market value represents a decrease of 9 (-25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 19.6 years old (a -10.8% decrease compared to the 22.0 years old of last year.). The average size of the real estate was 57.0 sq.m (a -7.1% decrease compared to the 61.4 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. Hirosaki station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Hirosaki station, where prices have increased +33.6% compared to last year; a sq.m unit now costs 235,998 JPY/sq.m.

The top 1 stations has seen prices increase +33.6% (+59,376 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +3.5% (+6,572 JPY/sq.m).


Cause of price increases

  • An decrease in average age of the building (representing 22.0 years old in 2015 and 19.6 years old in 2016; -10.8%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 72.7% of total transactions in 2015 and 51.9% of total transactions in 2016)

Causes of price decreases

  • An increase in average distance from the station (representing 16.2 min in 2015 and 18.1 min in 2016; +11.8%)

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 Hirosaki, the highest market value along this railway was 235,998 JPY/sq.m. The market value represents an increase of 59,376 JPY (+33.6%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents a decrease of 4 (-36.4%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Apartment of Aomori, the lowest market value along this railway was 196,515 JPY/sq.m. The market value represents an increase of 6,572 JPY (+3.5%) compared to 1 year ago and a transition to a some market. 20 properties exchanged hands ( The market value represents a decrease of 5 (-20.0%) 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(2016)1 year ago2 years ago
Hirosaki235,998 JPY (18.6Y/68.6sq.m)176,621 JPY (19.7Y/58.2sq.m)182,099 JPY (21.1Y/58.3sq.m)
Shin-Aomori---
Aomori196,515 JPY (20.0Y/53.0sq.m)189,942 JPY (22.7Y/62.8sq.m)241,243 JPY (22.3Y/54.7sq.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

Hirosaki235,998 JPY/sq.m (+34% compared with the previous year)

The average price of a sq.m Apartment of Hirosaki was 235,998 JPY/sq.m. The market value represents an increase of 59,376 JPY (+33.6%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents a decrease of 4 (-36.4%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 18.6 years old (a -5.5% decrease compared to the 19.7 years old of last year.). The average size of the real estate was 68.6 sq.m (a +17.9% increase compared to the 58.2 sq.m of last year.).

Cause of price increases

  • A some decrease in transactions involving relatively old buildings under 40 years old (representing 62.5% of total transactions in 2015 and 57.1% of total transactions in 2016)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 12.1 min in 2015 and 14.7 min in 2016; +21.7%)

Aomori196,515 JPY/sq.m (+3% compared with the previous year)

The average price of a sq.m Apartment of Aomori was 196,515 JPY/sq.m. The market value represents an increase of 6,572 JPY (+3.5%) compared to 1 year ago and a transition to a some market. 20 properties exchanged hands ( The market value represents a decrease of 5 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 20.0 years old (a -12.1% decrease compared to the 22.7 years old of last year.). The average size of the real estate was 53.0 sq.m (a -15.6% decrease compared to the 62.8 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 22.7 years old in 2015 and 20.0 years old in 2016; -12.1%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 76.0% of total transactions in 2015 and 50.0% of total transactions in 2016)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (https://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)