People paying €129,000 more to live near Dart and Luas stops in Dublin

28/04/2019 - 07:05

House prices close to Dart stations and Luas stops are now €129,000 higher than average prices in Dublin, a new survey has found.

The latest research from Daft.ie found that property prices near the public transport stops rose by an average of 4% in the first quarter of this year, to an average of €512,000.

It means that buyers are now paying €129,000, or 34%, more for a property close to a Dart station or Luas stop compared to the average price for a house in the capital, which is €383,000.

(Daft.ie graphic)

Raychel O’Connell from Daft.ie said: “House prices close to Dublin Dart and Luas stations continue to rise at a higher rate than the county average, which shows just how strong demand is for light rail public transport options in the capital.”

The survey released today analysed the average asking prices for two- and three-bedroom properties close to each of the 98 Dart and Luas stops and stations in the greater Dublin area for the period between April 2018 and March 2019.

Commuters on the Dublin south coastline pay on average the most for a property close to a Dart station with prices averaging €670,000, an increase of €45,000 since the first quarter of 2018.

Prices near Dart stations are among the most expensive analysed with Sandymount (€870,000), Dalkey (€848,000), Lansdowne Road (€821,000) and Sydney Parade (€756,000) accounting for four of the five most expensive stations to live near.

On the Luas, homes close to the Beechwood stop command the highest average asking price (€788,000) on the green line, while those living close to the Spencer Dock stop (€724,000) pay the most on the Luas red line.

(Daft.ie graphic)

For the first time, the 16 stops on the proposed MetroLink route were also examined.

Ms O’Connell said Daft.ie was delighted to include the planned route in its report and it would monitor how prices change as the project evolves.

The most expensive homes on the proposed Metro route are those closest to the Charlemont stop (€724,000) and Tara Street (€573,000).

The least expensive homes are currently in the areas close to the Ballymun (€285,000) and the Northwood (€322,000) stops.

Economist Ronan Lyons said: “In this update to the rail prices map, we’ve added areas around the MetroLink’s residential stations. That’s because, when people buy homes, they typically buy them for the long term – 10 years or more.

“Therefore, they plan ahead and it’s envisaged that MetroLink will be up and running by 2027, less than 10 years away.

“It is likely that, just as with the Luas before it, these areas will see extra demand as the MetroLink becomes a reality, which will show up in these infographics and in the scale of building nearby.”

Here is a breakdown of the most expensive average house prices in the areas surveyed.

Most expensive (all stations)

– Sandymount, €870,000

– Dalkey, €848,000

– Lansdowne Road, €821,000

– Beechwood, €788,000

– Sydney Parade, €756,000

Most expensive (Luas green line)

– Beechwood, €788,000

– Ranelagh, €741,000

– Charlemont, €724,000

– Cowper, €718,000

Most expensive (Luas red line)

– Spencer Dock, €724,000

– Mayor Square-NCI, €609,000

– George’s Dock, €548,000

– The Point, €542,000

Most expensive (DART)

– Sandymount, €870,000

– Dalkey, €848,000

– Lansdowne Road, €821,000

– Sydney Parade, €756,000 - Press Association