THE PRICES OF houses close to Dart stations and Luas stops rose by an average of 4% 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 for a property close to a Dart station or Luas stop, compared to the average asking price in Dublin.

Figures released today analyse the average asking prices for two-bedroom and three-bedroom properties close to (controlling for time, size and type) each of the 125 stops and stations in the Greater Dublin Area from April 2017 to March 2018.

Here’s a breakdown of the most expensive house prices in the areas analysed:

Most expensive (all stations)

• Sandymount €796,000
• Lansdowne Road €765,000
• Sydney Parade €761,000
• Beechwood €752,000
• Blackrock €734,000

Most expensive (Luas Green Line)

• Beechwood €752,000
• Ranelagh €725,000
• Charlemont €683,000
• Cowper €636,000
• Milltown €613,000

Most expensive (Luas Red Line)

• Spencer Dock €633,000
• Mayor Square -NCI €567,000
• Jervis €532,000
• George’s Dock €527,000
• The Point €479,000

Most expensive (Dart)

• Sandymount €796,000
• Lansdowne Road €765,000
• Sydney Parade €761,000
• Blackrock €734,000
• Dalkey €727,000

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 (€765,000), Sydney Parade (€761,000) and Blackrock (€734,000) accounting for four of the top five most expensive stations to live by.

Luas

On the Luas, homes close to the Beechwood stop on the Green Line have the highest average asking price (€752,000), while those living close to the Spencer Dock stop (€633,000) pay the most on the 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 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 added that 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,” he said.

All maps via Daft.ie, the report was sponsored by KBC Bank.