Commuters pay on average 26% more to buy close to DART & Luas

House prices 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.

View the full map here.

This means that buyers are now paying a premium of €114,000 (26%) 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 new maps produced by Daft.ie.

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 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; “Access to transport infrastructure 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)

1. Sandymount €796k

2. Lansdowne Road €765k

3. Sydney Parade €761k

4. Beechwood €752k

5. Blackrock €734k

Most expensive (Luas Green Line)

1. Beechwood €752k

2. Ranelagh €725k

3. Charlemont €683k

4. Cowper €636k

5. Milltown €613k

Most expensive (Luas Red Line)

1. Spencer Dock €633k

2. Mayor Square -NCI €567k

3. Jervis €532k

4. George’s Dock €527k

5. The Point €479k

Most expensive (DART)

1. Sandymount €796k

2. Lansdowne Road €765k

3. Sydney Parade €761k

4. Blackrock €734k

5. Dalkey €727k

Figures shown are average listed prices (controlling for time, size and type)for each of 125 stations in the Greater Dublin Area (where Heuston, Connolly and Bray stations across modes are merged). The sample of over 4,700 properties for sale comes from the period between April 2017 and March 2018.

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For further information please contact:

Martin Clancy – Public Relations and Communications at Daft.ie (martin@daft.ie)

About Daft.ie: Daft.ie is Ireland’s largest property website with over 2.5 million unique visitors generating over 228 million page impressions each month.