Iwate Galaxy Railway Line Land market overview

The average price of a sq.m Land of Iwate Galaxy Railway Line (Morioka to Kinntaichionnsenn), in Jan, 2016 to Dec, 2016 was 41,965 JPY/sq.m. The market value represents an increase of 1,465 JPY (+3.6%) compared to 1 year ago and a transition to a some market. 222 properties exchanged hands ( The market value represents an increase of 31 (+16.2%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 427.7 sq.m (a +30.4% increase compared to the 328.1 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving locations relatively far from the station less than twenty minutes by foot from the station.

3 stations have experienced increased prices; 8 stations have experienced decreased prices. Market value of most stations decreased. Kinntaichionnsenn station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Kinntaichionnsenn station, where prices have increased +95.9% compared to last year; a sq.m unit now costs 15,720 JPY/sq.m.

The top 2 stations has seen prices increase +54.9% (+7,548 JPY/sq.m). On the other hand, The bottom 2 stations has seen prices decrease -56.1% (-13,894 JPY/sq.m).


Cause of price increases

  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 1.0% of total transactions in 2015 and 1.8% of total transactions in 2016)

Breakdown of each segment

The table below shows Land dealt in Iwate Galaxy Railway 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:

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Land stations market overview

The average price of a sq.m Land of Morioka, the highest market value along this railway was 60,536 JPY/sq.m. The market value represents an increase of 7,402 JPY (+13.9%) compared to 1 year ago and a transition to a bull market. 101 properties exchanged hands ( The market value represents an increase of 14 (+16.1%) compared to 1 year ago and a transition to a bull market.).

The average price of a sq.m Land of Ichinohe, the lowest market value along this railway was 8,372 JPY/sq.m. The market value represents a decrease of 4,788 JPY (-36.4%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands ( The market value represents an increase of 4 (+133.3%) compared to 1 year ago and a transition to a dramatic market.).

Iwate Galaxy Railway Line (Stations Land market overview)
Iwate Galaxy Railway LineThis year(2016)1 year ago2 years ago
Morioka60,536 JPY (0.0Y/374.7sq.m)53,134 JPY (0.0Y/312.4sq.m)48,791 JPY (0.0Y/342.2sq.m)
Aoyama39,908 JPY (0.0Y/429.8sq.m)42,790 JPY (0.0Y/237.1sq.m)36,198 JPY (0.0Y/500.0sq.m)
Kuriyagawa34,694 JPY (0.0Y/537.0sq.m)41,408 JPY (0.0Y/254.8sq.m)35,386 JPY (0.0Y/360.6sq.m)
Sugo19,130 JPY (0.0Y/528.5sq.m)25,242 JPY (0.0Y/258.6sq.m)21,299 JPY (0.0Y/608.6sq.m)
Takizawa-11,198 JPY (0.0Y/378.0sq.m)5,592 JPY (0.0Y/516.0sq.m)
Shibutami12,539 JPY (0.0Y/614.3sq.m)13,595 JPY (0.0Y/767.5sq.m)15,909 JPY (0.0Y/440.0sq.m)
Kouma9,367 JPY (0.0Y/167.5sq.m)-10,344 JPY (0.0Y/290.0sq.m)
Iwatekawaguchi14,642 JPY (0.0Y/280.0sq.m)14,000 JPY (0.0Y/300.0sq.m)-
Iwate-Numakunai9,727 JPY (0.0Y/284.0sq.m)18,670 JPY (0.0Y/331.0sq.m)11,922 JPY (0.0Y/524.4sq.m)
Okunakayamakougenn9,375 JPY (0.0Y/320.0sq.m)--
Kozuya2,000 JPY (0.0Y/350.0sq.m)--
Ichinohe8,372 JPY (0.0Y/320.7sq.m)13,160 JPY (0.0Y/480.0sq.m)8,217 JPY (0.0Y/290.0sq.m)
Ninohe16,059 JPY (0.0Y/656.2sq.m)16,385 JPY (0.0Y/550.5sq.m)18,913 JPY (0.0Y/520.7sq.m)
Tomai10,455 JPY (0.0Y/430.7sq.m)29,300 JPY (0.0Y/293.6sq.m)17,273 JPY (0.0Y/536.0sq.m)
Kinntaichionnsenn15,720 JPY (0.0Y/430.0sq.m)8,026 JPY (0.0Y/447.5sq.m)-
*Average unit prices per sq.m of Land 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

Kinntaichionnsenn15,720 JPY/sq.m (+96% compared with the previous year)

The average price of a sq.m Land of Kinntaichionnsenn was 15,720 JPY/sq.m. The market value represents an increase of 7,694 JPY (+95.9%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 1 (-16.7%) compared to 1 year ago and a transition to a weak market.).

The average size of the real estate was 430.0 sq.m (a -3.9% decrease compared to the 447.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 98.8 min in 2015 and 77.0 min in 2016; -22.1%)

Morioka60,536 JPY/sq.m (+14% compared with the previous year)

The average price of a sq.m Land of Morioka was 60,536 JPY/sq.m. The market value represents an increase of 7,402 JPY (+13.9%) compared to 1 year ago and a transition to a bull market. 101 properties exchanged hands ( The market value represents an increase of 14 (+16.1%) compared to 1 year ago and a transition to a bull market.).

The average size of the real estate was 374.7 sq.m (a +19.9% increase compared to the 312.4 sq.m of last year.).

Tomai10,455 JPY/sq.m (-64% compared with the previous year)

The average price of a sq.m Land of Tomai was 10,455 JPY/sq.m. The market value represents a decrease of 18,845 JPY (-64.3%) compared to 1 year ago and a transition to a dramatic market. 7 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 430.7 sq.m (a +46.7% increase compared to the 293.6 sq.m of last year.).

Cause of price increases

  • An decrease in average distance from the station (representing 24.6 min in 2015 and 21.4 min in 2016; -12.8%)

Iwate-Numakunai9,727 JPY/sq.m (-48% compared with the previous year)

The average price of a sq.m Land of Iwate-Numakunai was 9,727 JPY/sq.m. The market value represents a decrease of 8,943 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 size of the real estate was 284.0 sq.m (a -14.2% decrease compared to the 331.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 20.2 min in 2015 and 100.2 min in 2016; +396.0%)

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)