JR San-in Main Line railway market report

JR San-in Main Line Home market overview

The average price of JR San-in Main Line (Higashihama to Yonago) Home, in Jan, 2018 to Mar, 2018 was 120,233 JPY/sq.m. The market value represents an increase of 19,024 JPY (+18.8%) compared to 1 year ago and a transition to a bull market. 78 properties exchanged hands ( The market value represents an increase of 6 (+8.3%) compared to 1 year ago and a transition to a strong market.).

The average age of the real estate was 29.4 years old (a +0.9% increase compared to the 29.1 years old of last year.). The average size of the real estate was 372.9 sq.m (a +33.4% increase compared to the 279.5 sq.m of last year.). The average total floor space of the real estate was 171.6 sq.m (a -8.2% decrease compared to the 186.9 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving very large size more than 200 sq.m, as well as an increase in transactions involving locations more than twenty minutes by foot from the station, outside of walking distance.

5 stations have experienced increased prices; 5 stations have experienced decreased prices. Market value of most stations decreased. Tottori, Hamamura, Houkidaisenn station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Akasaki station, where prices have increased +101.4% compared to last year; a sq.m unit now costs 33,333 JPY/sq.m.

The top 2 stations has seen prices increase +84.5% (+27,922 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -77.6% (-52,074 JPY/sq.m).

Cause of price increases

  • A dramatic increase in transactions involving recently constructed buildings under 6 years old (representing 1.4% of total transactions in 2017 and 3.0% of total transactions in 2018)
  • An increase in transactions involving nearly new buildings under 3 years old (representing 10.1% of total transactions in 2017 and 11.9% of total transactions in 2018)

Causes of price decreases

  • An increase in average distance from the station (representing 26.7 min in 2017 and 29.7 min in 2018; +11.1%)
  • An increase in transactions involving relatively old buildings under 40 years old (representing 40.6% of total transactions in 2017 and 46.3% of total transactions in 2018)
  • A dramatic decrease in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 2.8% of total transactions in 2017 and 1.3% of total transactions in 2018)

Home stations market overview

The average price of Tottori Home, the highest market value along this railway was 171,498 JPY/sq.m. The market value represents an increase of 54,480 JPY (+46.6%) compared to 1 year ago and a transition to a dramatic market. 22 properties exchanged hands ( The market value represents a decrease of 3 (-12.0%) compared to 1 year ago and a transition to a weak market.).

The average price of Iwami Home, the lowest market value along this railway was 3,226 JPY/sq.m. The market value represents a decrease of 43,274 JPY (-93.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

JR San-in Main Line (Stations Home market overview)
JR San-in Main LineThis year(2018)
(Avg.Age,Dim.)
1 year ago
(Avg.Age,Dim.)
2 years ago
(Avg.Age,Dim.)
Higashihama---
Iwami3,226 JPYsq.m
(49.032876712328765335sq.m)
46,500 JPYsq.m
(20.013698630136986910sq.m)
14,815 JPYsq.m
(0.0140sq.m)
Ooiwa--42,200 JPYsq.m
(0.0290sq.m)
Fukube-352,381 JPYsq.m
(35.02465753424657940sq.m)
108,333 JPYsq.m
(23.016438356164382175sq.m)
Tottori171,498 JPYsq.m
(33.54866618601298379sq.m)
117,018 JPYsq.m
(26.601712328767125174sq.m)
106,435 JPYsq.m
(35.707347447073474198sq.m)
Koyama130,581 JPYsq.m
(21.681278538812787483sq.m)
139,034 JPYsq.m
(29.27054794520548179sq.m)
183,790 JPYsq.m
(12.008219178082191550sq.m)
Tottoridaigakumae74,844 JPYsq.m
(45.53150684931507296sq.m)
97,321 JPYsq.m
(31.27123287671233292sq.m)
41,642 JPYsq.m
(34.02328767123288293sq.m)
Suetsune37,143 JPYsq.m
(20.013698630136986230sq.m)
98,016 JPYsq.m
(17.012328767123286695sq.m)
-
Hougi---
Hamamura96,774 JPYsq.m
(13.008219178082191300sq.m)
57,710 JPYsq.m
(20.681278538812787207sq.m)
-
Aoya---
Tomari---
Matsuzaki9,905 JPYsq.m
(40.02602739726027188sq.m)
--
Kurayoshi64,874 JPYsq.m
(28.019178082191782257sq.m)
82,678 JPYsq.m
(33.022602739726025400sq.m)
67,219 JPYsq.m
(35.69193302891933302sq.m)
Shimohoujou--92,308 JPYsq.m
(20.013698630136986150sq.m)
Yura39,130 JPYsq.m
(26.016438356164382370sq.m)
-21,739 JPYsq.m
(20.01369863013698680.0sq.m)
Urayasu39,769 JPYsq.m
(32.52191780821918570sq.m)
--
Yabase-35,455 JPYsq.m
(35.02465753424657270sq.m)
-
Akasaki33,333 JPYsq.m
(23.016438356164382750sq.m)
16,552 JPYsq.m
(36.02465753424657170sq.m)
-
Nakayamaguchi---
Shimoichi--33,898 JPYsq.m
(46.0328767123287651,400sq.m)
Mikuriya-20,000 JPYsq.m
(52.035616438356165360sq.m)
-
Nawa--57,241 JPYsq.m
(22.016438356164382830sq.m)
Daisennguchi22,222 JPYsq.m
(44.03013698630137185sq.m)
--
Yodoe-40,000 JPYsq.m
(0.0330sq.m)
43,478 JPYsq.m
(30.02191780821918670sq.m)
Houkidaisenn113,834 JPYsq.m
(32.42191780821918258sq.m)
92,241 JPYsq.m
(30.16399217221135269sq.m)
Higashiyamakouenn-45,882 JPYsq.m
(50.035616438356165165sq.m)
-
Yonago128,810 JPYsq.m
(22.80461427541456426sq.m)
113,533 JPYsq.m
(28.16281800391389274sq.m)
102,719 JPYsq.m
(23.401475237091674382sq.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.

Noteworthy stations

Akasaki33,333 JPY/sq.m (+101% compared with the previous year)

The average price of Akasaki Home was 33,333 JPY/sq.m. The market value represents an increase of 16,781 JPY (+101.4%) 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 23.0 years old (a -36.1% decrease compared to the 36.0 years old of last year.). The average size of the real estate was 750.0 sq.m (a +341.2% increase compared to the 170.0 sq.m of last year.). The average total floor space of the real estate was 240.0 sq.m (a +65.5% increase compared to the 145.0 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 36.0 years old in 2017 and 23.0 years old in 2018; -36.1%)
  • A dramatic decrease in average distance from the station (representing 24.0 min in 2017 and 8.0 min in 2018; -66.7%)
  • A slight decrease in transactions involving relatively old buildings under 40 years old (representing 100.0% of total transactions in 2017 and 100.0% of total transactions in 2018)

Hamamura96,774 JPY/sq.m (+68% compared with the previous year)

The average price of Hamamura Home was 96,774 JPY/sq.m. The market value represents an increase of 39,064 JPY (+67.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands ( The market value represents a decrease of 2 (-66.7%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 13.0 years old (a -37.1% decrease compared to the 20.7 years old of last year.). The average size of the real estate was 300.0 sq.m (a +45.2% increase compared to the 206.7 sq.m of last year.). The average total floor space of the real estate was 155.0 sq.m (a +43.1% increase compared to the 108.3 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average age of the building (representing 20.7 years old in 2017 and 13.0 years old in 2018; -37.1%)
  • A dramatic decrease in average distance from the station (representing 29.0 min in 2017 and 11.0 min in 2018; -62.1%)

Iwami3,226 JPY/sq.m (-93% compared with the previous year)

The average price of Iwami Home was 3,226 JPY/sq.m. The market value represents a decrease of 43,274 JPY (-93.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands ( The market value represents an increase of 1 (+100.0%) compared to 1 year ago and a transition to a dramatic market.).

The average age of the real estate was 49.0 years old (a +145.0% increase compared to the 20.0 years old of last year.). The average size of the real estate was 335.0 sq.m (a -63.2% decrease compared to the 910.0 sq.m of last year.). The average total floor space of the real estate was 155.0 sq.m (a -22.5% decrease compared to the 200.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average age of the building (representing 20.0 years old in 2017 and 49.0 years old in 2018; +145.0%)
  • A dramatic increase in average distance from the station (representing 9.0 min in 2017 and 19.5 min in 2018; +116.7%)

Suetsune37,143 JPY/sq.m (-62% compared with the previous year)

The average price of Suetsune Home was 37,143 JPY/sq.m. The market value represents a decrease of 60,873 JPY (-62.1%) compared to 1 year ago and a transition to a dramatic market. 2 properties exchanged hands (It was the same as last year.).

The average age of the real estate was 20.0 years old (a +17.6% increase compared to the 17.0 years old of last year.). The average size of the real estate was 230.0 sq.m (a -66.9% decrease compared to the 695.0 sq.m of last year.). The average total floor space of the real estate was 210.0 sq.m (a +52.7% increase compared to the 137.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 51.0 min in 2017 and 7.0 min in 2018; -86.3%)

Causes of price decreases

  • An increase in average age of the building (representing 17.0 years old in 2017 and 20.0 years old in 2018; +17.6%)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

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Utinokati Real estate media providing price quotes and price trends for condominiums, homes, land and rental properties in 250,000 locations nationwide, along more than 20,000 train lines and stations, as well as rent quotes and rent trends.
Totinokati Real estate media providing public land prices, roadside land prices (inheritance tax assessed values), and property tax assessed values for 10,000 areas and station areas nationwide, based on the Ministry of Land, Infrastructure, Transport and Tourism's public notice of land prices.
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