House prices close to DART stations and Luas stops rose by an average of four percent in the first quarter of 2018 to an average of €492,000, according to new research from Daft.ie.
This means that buyers are now paying a premium of €114,000 (26 percent) for a property close to a DART or Luas stop compared to the average asking price in Dublin.
Daft.ie has today launched their Q1 2018 DART & Luas stop-by-stop house price maps, sponsored by KBC Bank. The research which led to the creation of these maps analysed the average asking prices for two and three bedroom properties close to (controlling for time, size and type) each of the 125 stops and stations in the Greater Dublin Area for the period between April 2017 and March 2018.
Commuters on the Dublin south coastline pay on average the most for a property close to a DART station with prices averaging €625,000.
Prices near DART stations are among the most expensive analysed with Lansdowne Road (€765k), Sydney Parade (€761k) and Blackrock (€734k) accounting for four of the top five most expensive stations to live by.
On the Luas, homes close to the Beechwood stop on the Green Line command the highest average asking price (€752k), while those living close to the Spencer Dock stop (€633k) pay the most on the Luas Red Line.
Commenting on the figures, Ronan Lyons, economist at Trinity College Dublin, said: “The price of housing reflects not only the dwelling itself but also a wide range of nearby amenities. An obvious example is access to good transport facilities and, as this report shows, those looking for a new home reward properties with good transport links.
"In Ireland, the property tax is based on the market value of a home – and this is a good way to encourage investment in more transport infrastructure. As these homes are more valuable, this leads to a form of 'value capture', with the Government able to set aside some of their Local Property Tax income to pay back money borrowed to build new rail track."
Martin Clancy from Daft.ie said: “Infrastructural inflation is, unsurprisingly, driving up premiums for properties with good connectivity. For example, on the Luas Green Line, 16 of the 27 stops have average property prices in excess of half a million euro.”
Most expensive (All Stations)
• Sandymount €796k
• Lansdowne Road €765k
• Sydney Parade €761k
• Beechwood €752k
• Blackrock €734k
Most expensive (Luas Green Line)
• Beechwood €752k
• Ranelagh €725k
• Charlemont €683k
• Cowper €636k
• Milltown €613k
Most expensive (Luas Red Line)
• Spencer Dock €633k
• Mayor Square -NCI €567k
• Jervis €532k
• George’s Dock €527k
• The Point €479k
Most expensive (DART)
• Sandymount €796k
• Lansdowne Road €765k
• Sydney Parade €761k
• Blackrock €734k
• Dalkey €727k
