JR Wakayama Line Home market overview

The average price of a sq.m Home of JR Wakayama Line (Ouji to Yamatofutami), in Jan, 2014 to Dec, 2014 was 148,163 JPY/sq.m. The market value represents a decrease of 24,136 JPY (-14.0%) compared to 1 year ago and a transition to a weak market. 94 properties exchanged hands ( The market value represents a decrease of 46 (-32.9%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 17.1 years old (a +4.1% increase compared to the 16.5 years old of last year.). The average size of the real estate was 229.3 sq.m (a -2.7% decrease compared to the 235.5 sq.m of last year.). The average total floor space of the real estate was 150.8 sq.m (a +6.6% increase compared to the 141.5 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively old buildings under 40 years old, as well as a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

4 stations have experienced increased prices; 8 stations have experienced decreased prices. Market value of most stations decreased. Shizumi, Gose station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kitauchi station, where prices have increased +175.4% compared to last year; a sq.m unit now costs 96,774 JPY/sq.m.

The top 2 stations has seen prices increase +108.8% (+54,925 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -51.4% (-83,296 JPY/sq.m).


Cause of price increases

  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 5.9% of total transactions in 2013 and 2.3% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 37.5% of total transactions in 2013 and 46.0% of total transactions in 2014)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 10.7% of total transactions in 2013 and 7.4% of total transactions in 2014)

Breakdown of each segment

The table below shows Home dealt in JR Wakayama 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

Home stations market overview

The average price of a sq.m Home of Yamatoshinnjou, the highest market value along this railway was 185,618 JPY/sq.m. The market value represents a decrease of 20,834 JPY (-10.1%) compared to 1 year ago and a transition to a weak market. 4 properties exchanged hands ( The market value represents a decrease of 1 (-20.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Home of Yamatofutami, the lowest market value along this railway was 45,454 JPY/sq.m. The market value represents a decrease of 64,194 JPY (-58.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 1 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

JR Wakayama Line (Stations Home market overview)
JR Wakayama LineThis year(2014)1 year ago2 years ago
Ouji184,640 JPY (15.8Y/162.0sq.m)184,137 JPY (15.6Y/176.3sq.m)227,779 JPY (13.4Y/180.7sq.m)
Hatakeda133,888 JPY (17.4Y/166.7sq.m)232,935 JPY (7.1Y/165.5sq.m)178,475 JPY (18.8Y/174.6sq.m)
Shizumi162,406 JPY (10.7Y/149.3sq.m)114,195 JPY (25.7Y/283.5sq.m)149,822 JPY (21.1Y/184.1sq.m)
Kashiba159,262 JPY (24.4Y/205.0sq.m)169,922 JPY (12.6Y/140.0sq.m)149,874 JPY (15.6Y/120.0sq.m)
JR-Goidou166,666 JPY (9.6Y/117.5sq.m)170,932 JPY (15.7Y/180.0sq.m)189,748 JPY (13.2Y/395.7sq.m)
Takada129,208 JPY (22.7Y/255.8sq.m)231,607 JPY (25.4Y/401.4sq.m)83,179 JPY (25.5Y/211.9sq.m)
Yamatoshinnjou185,618 JPY (7.6Y/612.5sq.m)206,452 JPY (6.7Y/486.0sq.m)202,329 JPY (4.4Y/235.0sq.m)
Gose139,648 JPY (0.8Y/717.5sq.m)111,179 JPY (23.2Y/390.0sq.m)125,088 JPY (21.5Y/295.0sq.m)
Tamade65,000 JPY (25.2Y/130.0sq.m)89,922 JPY (22.0Y/105.0sq.m)-
Wakigami---
Kitauchi96,774 JPY (15.8Y/210.0sq.m)35,135 JPY (30.3Y/350.0sq.m)162,237 JPY (14.1Y/280.0sq.m)
Gojou97,703 JPY (22.1Y/299.7sq.m)99,862 JPY (18.5Y/375.0sq.m)68,904 JPY (28.3Y/244.2sq.m)
Yamatofutami45,454 JPY (6.1Y/140.0sq.m)109,648 JPY (12.9Y/220.0sq.m)144,274 JPY (9.2Y/218.0sq.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

Kitauchi96,774 JPY/sq.m (+175% compared with the previous year)

The average price of a sq.m Home of Kitauchi was 96,774 JPY/sq.m. The market value represents an increase of 61,639 JPY (+175.4%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 15.8 years old (a -47.9% decrease compared to the 30.3 years old of last year.). The average size of the real estate was 210.0 sq.m (a -40.0% decrease compared to the 350.0 sq.m of last year.). The average total floor space of the real estate was 155.0 sq.m (a -16.2% decrease compared to the 185.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 30.3 years old in 2013 and 15.8 years old in 2014; -47.9%)

Shizumi162,406 JPY/sq.m (+42% compared with the previous year)

The average price of a sq.m Home of Shizumi was 162,406 JPY/sq.m. The market value represents an increase of 48,211 JPY (+42.2%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents a decrease of 3 (-30.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 10.7 years old (a -58.3% decrease compared to the 25.7 years old of last year.). The average size of the real estate was 149.3 sq.m (a -47.3% decrease compared to the 283.5 sq.m of last year.). The average total floor space of the real estate was 103.6 sq.m (a -38.5% decrease compared to the 168.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 25.7 years old in 2013 and 10.7 years old in 2014; -58.3%)
  • A dramatic decrease in average distance from the station (representing 12.4 min in 2013 and 8.7 min in 2014; -29.7%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 10.0% of total transactions in 2013 and 28.6% of total transactions in 2014)

Yamatofutami45,454 JPY/sq.m (-59% compared with the previous year)

The average price of a sq.m Home of Yamatofutami was 45,454 JPY/sq.m. The market value represents a decrease of 64,194 JPY (-58.5%) compared to 1 year ago and a transition to a dramatic market. 3 properties exchanged hands ( The market value represents an increase of 1 (+50.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 6.1 years old (a -52.4% decrease compared to the 12.9 years old of last year.). The average size of the real estate was 140.0 sq.m (a -36.4% decrease compared to the 220.0 sq.m of last year.). The average total floor space of the real estate was 165.0 sq.m (a +57.1% increase compared to the 105.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 12.9 years old in 2013 and 6.1 years old in 2014; -52.4%)
  • A dramatic decrease in average distance from the station (representing 13.0 min in 2013 and 3.0 min in 2014; -76.9%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 50.0% of total transactions in 2013 and 66.7% of total transactions in 2014)

Takada129,208 JPY/sq.m (-44% compared with the previous year)

The average price of a sq.m Home of Takada was 129,208 JPY/sq.m. The market value represents a decrease of 102,399 JPY (-44.2%) compared to 1 year ago and a transition to a dramatic market. 12 properties exchanged hands ( The market value represents an increase of 1 (+9.1%) compared to 1 year ago and a transition to a strong market.).

The average age of the real estate was 22.7 years old (a -10.4% decrease compared to the 25.4 years old of last year.). The average size of the real estate was 255.8 sq.m (a -36.3% decrease compared to the 401.4 sq.m of last year.). The average total floor space of the real estate was 164.5 sq.m (a -33.0% decrease compared to the 245.5 sq.m of last year.).

Cause of price increases

  • An decrease in average age of the building (representing 25.4 years old in 2013 and 22.7 years old in 2014; -10.4%)
  • A dramatic decrease in transactions involving older buildings over 40 years old (representing 27.3% of total transactions in 2013 and 8.3% of total transactions in 2014)

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 11.4 min in 2013 and 14.8 min in 2014; +29.8%)
  • A dramatic increase in transactions involving relatively old buildings under 40 years old (representing 27.3% of total transactions in 2013 and 58.3% of total transactions in 2014)
  • A some decrease in transactions involving nearly new buildings under 3 years old (representing 27.3% of total transactions in 2013 and 25.0% of total transactions in 2014)

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)