IR Ishikawa Railway Home market overview

The average price of a sq.m Home of IR Ishikawa Railway (Tsubata to Kanazawa), in Apr, 2016 to Jun, 2016 was 149,416 JPY/sq.m. The market value represents an increase of 26,221 JPY (+21.3%) compared to 1 year ago and a transition to a dramatic market. 152 properties exchanged hands ( The market value represents an increase of 40 (+35.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 25.1 years old (a +10.4% increase compared to the 22.7 years old of last year.). The average size of the real estate was 260.2 sq.m (a -3.0% decrease compared to the 268.3 sq.m of last year.). The average total floor space of the real estate was 219.7 sq.m (a +16.7% increase compared to the 188.3 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving middle total floor space for a DINKS or an old age households less than 60 sq.m, as well as a dramatic increase in transactions involving size for a general family households less than 100 sq.m.

2 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Morimoto, Kanazawa station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Morimoto station, where prices have increased +47.9% compared to last year; a sq.m unit now costs 134,455 JPY/sq.m.

The top 1 stations has seen prices increase +47.9% (+43,537 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -29.0% (-57,844 JPY/sq.m).


Cause of price increases

  • An decrease in transactions involving relatively old buildings under 40 years old (representing 42.6% of total transactions in 2015 and 37.9% of total transactions in 2016)

Causes of price decreases

  • An increase in average age of the building (representing 22.7 years old in 2015 and 25.1 years old in 2016; +10.4%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 17.0% of total transactions in 2015 and 23.6% of total transactions in 2016)
  • A some decrease in transactions involving nearly new buildings under 3 years old (representing 25.5% of total transactions in 2015 and 23.6% of total transactions in 2016)

Breakdown of each segment

The table below shows Home dealt in IR Ishikawa Railway, 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

Home stations market overview

The average price of a sq.m Home of Kanazawa, the highest market value along this railway was 150,437 JPY/sq.m. The market value represents an increase of 28,243 JPY (+23.1%) compared to 1 year ago and a transition to a dramatic market. 138 properties exchanged hands ( The market value represents an increase of 38 (+38.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Home of Morimoto, the lowest market value along this railway was 134,455 JPY/sq.m. The market value represents an increase of 43,537 JPY (+47.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands (It was the same as last year.).

IR Ishikawa Railway (Stations Home market overview)
IR Ishikawa RailwayThis year(2016)1 year ago2 years ago
Tsubata142,790 JPY (22.9Y/371.7sq.m)-
Morimoto134,455 JPY (15.1Y/163.0sq.m)90,918 JPY (27.6Y/708.0sq.m)
Higashikanazawa141,382 JPY (24.5Y/162.0sq.m)199,226 JPY (11.8Y/150.0sq.m)
Kanazawa150,437 JPY (25.6Y/252.2sq.m)122,195 JPY (23.5Y/235.4sq.m)
*Average unit prices per sq.m of Home 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

Morimoto134,455 JPY/sq.m (+48% compared with the previous year)

The average price of a sq.m Home of Morimoto was 134,455 JPY/sq.m. The market value represents an increase of 43,537 JPY (+47.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 15.1 years old (a -45.4% decrease compared to the 27.6 years old of last year.). The average size of the real estate was 163.0 sq.m (a -77.0% decrease compared to the 708.0 sq.m of last year.). The average total floor space of the real estate was 131.0 sq.m (a -75.7% decrease compared to the 538.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 27.6 years old in 2015 and 15.1 years old in 2016; -45.4%)
  • A dramatic decrease in average distance from the station (representing 26.0 min in 2015 and 15.2 min in 2016; -41.5%)
  • A dramatic decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2015 and 40.0% of total transactions in 2016)

Higashikanazawa141,382 JPY/sq.m (-29% compared with the previous year)

The average price of a sq.m Home of Higashikanazawa was 141,382 JPY/sq.m. The market value represents a decrease of 57,844 JPY (-29.0%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents an increase of 1 (+25.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 24.5 years old (a +108.4% increase compared to the 11.8 years old of last year.). The average size of the real estate was 162.0 sq.m (a +8.0% increase compared to the 150.0 sq.m of last year.). The average total floor space of the real estate was 122.0 sq.m (a +9.7% increase compared to the 111.2 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 11.8 years old in 2015 and 24.5 years old in 2016; +108.4%)
  • A dramatic increase in average distance from the station (representing 10.0 min in 2015 and 15.0 min in 2016; +50.0%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 25.0% of total transactions in 2015 and 40.0% 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)