IR Ishikawa Railway Ishikawa 2017-FY
Home market report

IR Ishikawa Railway railway market report

IR Ishikawa Railway Home market overview

The average price of a sq.m Home of IR Ishikawa Railway (Tsubata to Kanazawa), in Jan, 2017 to Sep, 2017 was 135,237 JPY/sq.m. The market value represents an increase of 2 JPY (+0.0%) compared to 1 year ago and a transition to a slight market. 173 properties exchanged hands ( The market value represents a decrease of 161 (-48.2%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 28.1 years old (a +4.1% increase compared to the 26.9 years old of last year.). The average size of the real estate was 237.6 sq.m (a -3.1% decrease compared to the 245.2 sq.m of last year.). The average total floor space of the real estate was 180.0 sq.m (a -9.6% decrease compared to the 199.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was an increase in transactions involving relatively large total floor space more than 100 sq.m, as well as a dramatic decrease in transactions involving total floor space for a general family households less than 100 sq.m.

3 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was toward increased prices. Morimoto, Higashikanazawa 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 +99.8% compared to last year; a sq.m unit now costs 182,122 JPY/sq.m.

The top 1 stations has seen prices increase +99.8% (+90,963 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -3.4% (-4,666 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 0.3% of total transactions in 2016 and 0.6% of total transactions in 2017)

Causes of price decreases

  • A some increase in transactions involving relatively old buildings under 40 years old (representing 39.2% of total transactions in 2016 and 41.8% of total transactions in 2017)
  • An decrease in transactions involving nearly new buildings under 3 years old (representing 19.3% of total transactions in 2016 and 17.0% of total transactions in 2017)

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:

※各年ごとの取引件数の割合が高いセグメントほど赤く表示

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Home stations market overview

The average price of a sq.m Home of Higashikanazawa, the highest market value along this railway was 279,131 JPY/sq.m. The market value represents an increase of 90,485 JPY (+48.0%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents a decrease of 7 (-77.8%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Home of Tsubata, the lowest market value along this railway was 121,500 JPY/sq.m. The market value represents an increase of 5,841 JPY (+5.1%) compared to 1 year ago and a transition to a strong market. 2 properties exchanged hands ( The market value represents a decrease of 4 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

IR Ishikawa Railway (Stations Home market overview)
IR Ishikawa RailwayThis year(2017)1 year ago2 years ago
Tsubata121,500 JPY (30.0Y/275.0sq.m)115,659 JPY (21.8Y/298.3sq.m)99,760 JPY (14.4Y/511.1sq.m)
Morimoto182,122 JPY (18.7Y/204.2sq.m)91,159 JPY (27.8Y/284.1sq.m)85,245 JPY (28.7Y/476.8sq.m)
Higashikanazawa279,131 JPY (11.5Y/780.0sq.m)188,646 JPY (15.4Y/154.4sq.m)176,095 JPY (21.2Y/166.1sq.m)
Kanazawa131,765 JPY (28.6Y/231.7sq.m)136,431 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.

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Noteworthy stations

Morimoto182,122 JPY/sq.m (+100% compared with the previous year)

The average price of a sq.m Home of Morimoto was 182,122 JPY/sq.m. The market value represents an increase of 90,963 JPY (+99.8%) compared to 1 year ago and a transition to a dramatic market. 6 properties exchanged hands ( The market value represents a decrease of 10 (-62.5%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 18.7 years old (a -32.7% decrease compared to the 27.8 years old of last year.). The average size of the real estate was 204.2 sq.m (a -28.1% decrease compared to the 284.1 sq.m of last year.). The average total floor space of the real estate was 150.8 sq.m (a -30.9% decrease compared to the 218.1 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 27.8 years old in 2016 and 18.7 years old in 2017; -32.7%)
  • An decrease in average distance from the station (representing 21.9 min in 2016 and 18.8 min in 2017; -14.2%)
  • A dramatic increase in transactions involving nearly new buildings under 3 years old (representing 20.0% of total transactions in 2016 and 50.0% of total transactions in 2017)
  • A dramatic increase in transactions involving locations near to the station less than three minutes by foot from the station (representing 6.2% of total transactions in 2016 and 16.7% of total transactions in 2017)

Kanazawa131,765 JPY/sq.m (-3% compared with the previous year)

The average price of a sq.m Home of Kanazawa was 131,765 JPY/sq.m. The market value represents a decrease of 4,666 JPY (-3.4%) compared to 1 year ago and a transition to a some market. 163 properties exchanged hands ( The market value represents a decrease of 139 (-46.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 28.6 years old (a +4.5% increase compared to the 27.4 years old of last year.). The average size of the real estate was 231.7 sq.m (a -3.0% decrease compared to the 239.0 sq.m of last year.). The average total floor space of the real estate was 179.5 sq.m (a -8.1% decrease compared to the 195.3 sq.m of last year.).

Causes of price decreases

  • A some increase in transactions involving relatively old buildings under 40 years old (representing 40.0% of total transactions in 2016 and 42.7% of total transactions in 2017)
  • An decrease in transactions involving nearly new buildings under 3 years old (representing 18.1% of total transactions in 2016 and 15.4% of total transactions in 2017)

Breakdown of each segment

Station:   Segment:

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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)