HOUSE PRICES CLOSE to Dart stations and Luas stops have risen again by an average of 4% in the first quarter of 2019 to an average of €512,000, according to new research from Daft.ie.
This means that buyers are now paying a premium of €129,000 for a property close to a Dart or Luas stop compared to the average asking price in Dublin, which was €383,000.
Figures released today analyse the average asking prices for two and three bedroom properties (controlling for time, size and type) close to each each of the 98 Dart and Luas stops and stations in the Greater Dublin Area from April 2018 and March 2019 and, for the first time, the 16 stops on the proposed MetroLink route.
Here’s a breakdown of the most expensive house prices in the areas analysed:
Most expensive (all stations)
Most expensive (Luas Green Line)
Most expensive (Luas Red Line)
Most expensive (Dart)
As seen on previous Daft Light Rail reports, 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 by.
Luas
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.
MetroLink
For the first time, the Daft Light Rail maps includes house prices close to the proposed MetroLink route.
The most expensive homes in the current plan are those closest to the Charlemont stop (€724,000) and Tara Street (€573,000). While the least expensive homes are currently in the area of the Ballymun (€285,000) and the Northwood (€322,000) stops.
“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,” economist Ronan Lyons said, commenting on the latest figures.
“Therefore, they plan ahead and it’s envisaged that MetroLink will be up and running by 2027, less than ten years away,” he said.
“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.”
Note: Journal Media Ltd has shareholders in common with Daft.ie publisher Distilled Media Group.
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