IR Ishikawa Railway Home market overview

The average price of a sq.m Home of IR Ishikawa Railway (Tsubata to Kanazawa), in Jan, 2016 to Sep, 2016 was 135,235 JPY/sq.m. The market value represents an increase of 3,627 JPY (+2.8%) compared to 1 year ago and a transition to a slight market. 334 properties exchanged hands ( The market value represents a decrease of 11 (-3.2%) compared to 1 year ago and a transition to a some market.).

The average age of the real estate was 26.9 years old (a +14.3% increase compared to the 23.6 years old of last year.). The average size of the real estate was 245.2 sq.m (a -1.8% decrease compared to the 249.6 sq.m of last year.). The average total floor space of the real estate was 199.1 sq.m (a +3.3% increase compared to the 192.7 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving older buildings over 40 years old, as well as a dramatic increase in transactions involving relatively new buildings under 20 years old.

4 stations have experienced increased prices; 0 stations have experienced decreased prices. The market value increased in all stations. Tsubata station has seen a price increase of over 10% compared to last year. The most dramatic price increase was at Tsubata station, where prices have increased +15.9% compared to last year; a sq.m unit now costs 115,659 JPY/sq.m.

The top 1 stations has seen prices increase +15.9% (+15,899 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease +3.0% (+4,026 JPY/sq.m).


Cause of price increases

  • An decrease in transactions involving relatively old buildings under 40 years old (representing 45.1% of total transactions in 2015 and 39.2% of total transactions in 2016)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 0.7% of total transactions in 2015 and 1.4% of total transactions in 2016)

Causes of price decreases

  • An increase in average age of the building (representing 23.6 years old in 2015 and 26.9 years old in 2016; +14.3%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 17.1% of total transactions in 2015 and 26.7% of total transactions in 2016)
  • A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 25.3% of total transactions in 2015 and 19.3% 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 Higashikanazawa, the highest market value along this railway was 188,646 JPY/sq.m. The market value represents an increase of 12,551 JPY (+7.1%) compared to 1 year ago and a transition to a strong market. 9 properties exchanged hands (It was the same as last year.).

The average price of a sq.m Home of Morimoto, the lowest market value along this railway was 91,159 JPY/sq.m. The market value represents an increase of 5,914 JPY (+6.9%) compared to 1 year ago and a transition to a strong market. 16 properties exchanged hands ( The market value represents an increase of 5 (+45.5%) compared to 1 year ago and a transition to a dramatic market.).

IR Ishikawa Railway (Stations Home market overview)
IR Ishikawa RailwayThis year(2016)1 year ago2 years ago
Tsubata115,659 JPY (21.8Y/298.3sq.m)99,760 JPY (14.4Y/511.1sq.m)
Morimoto91,159 JPY (27.8Y/284.1sq.m)85,245 JPY (28.7Y/476.8sq.m)
Higashikanazawa188,646 JPY (15.4Y/154.4sq.m)176,095 JPY (21.2Y/166.1sq.m)
Kanazawa136,431 JPY (27.4Y/239.0sq.m)132,405 JPY (23.7Y/236.6sq.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

Tsubata115,659 JPY/sq.m (+16% compared with the previous year)

The average price of a sq.m Home of Tsubata was 115,659 JPY/sq.m. The market value represents an increase of 15,899 JPY (+15.9%) compared to 1 year ago and a transition to a bull market. 6 properties exchanged hands ( The market value represents a decrease of 3 (-33.3%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 21.8 years old (a +50.9% increase compared to the 14.4 years old of last year.). The average size of the real estate was 298.3 sq.m (a -41.6% decrease compared to the 511.1 sq.m of last year.). The average total floor space of the real estate was 151.7 sq.m (a -49.1% decrease compared to the 297.9 sq.m of last year.).

Cause of price increases

  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 25.0% of total transactions in 2015 and 33.3% of total transactions in 2016)

Causes of price decreases

  • A dramatic increase in average age of the building (representing 14.4 years old in 2015 and 21.8 years old in 2016; +50.9%)
  • A dramatic increase in average distance from the station (representing 18.4 min in 2015 and 22.2 min in 2016; +20.2%)

Kanazawa136,431 JPY/sq.m (+3% compared with the previous year)

The average price of a sq.m Home of Kanazawa was 136,431 JPY/sq.m. The market value represents an increase of 4,026 JPY (+3.0%) compared to 1 year ago and a transition to a some market. 302 properties exchanged hands ( The market value represents a decrease of 14 (-4.4%) compared to 1 year ago and a transition to a some market.).

The average age of the real estate was 27.4 years old (a +15.5% increase compared to the 23.7 years old of last year.). The average size of the real estate was 239.0 sq.m (a +1.0% increase compared to the 236.6 sq.m of last year.). The average total floor space of the real estate was 195.3 sq.m (a +2.6% increase compared to the 190.4 sq.m of last year.).

Cause of price increases

  • An decrease in transactions involving relatively old buildings under 40 years old (representing 45.1% of total transactions in 2015 and 40.0% of total transactions in 2016)
  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 0.7% of total transactions in 2015 and 1.5% of total transactions in 2016)

Causes of price decreases

  • An increase in average age of the building (representing 23.7 years old in 2015 and 27.4 years old in 2016; +15.5%)
  • A dramatic increase in transactions involving older buildings over 40 years old (representing 17.5% of total transactions in 2015 and 27.2% of total transactions in 2016)
  • A dramatic decrease in transactions involving nearly new buildings under 3 years old (representing 25.7% of total transactions in 2015 and 18.1% 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)