Want to live close to a Dart or Luas stop? Then it could cost you up to €788,000
Published 07/12/2016 | 02:30
Homeowners have to pay top whack to live near public transport links in Dublin, with new research showing properties near Dart stations in the capital among the most expensive in the country.
It is also expensive to reside near a Luas line and commuting from a coastal location in the greater Dublin area means having to pay more for a home, a survey by Daft.ie found.
Sandymount, which is near a Dart station, has the most expensive properties for commuters to buy, averaging €788,000.
Proximity to a Dart stop drives up prices, with Dalkey properties commanding asking prices of €716,000.
Other southside Dart stations with expensive housing nearby include Sydney Parade, with typical asking prices of €716,000, and Sandycove and Glasthule at €705,000.
On the Luas green line, homes close to Cowper, near Rathgar in south Dublin, have the highest averages asking prices at €679,000.
Those living in the city centre pay most on the Luas red line, with properties near the Spencer Dock stop averaging €663,000.
On the northside, Howth has the most expensive asking prices at €566,000 on average. The village, with hills that sweep down to the fishing port and yacht club, has traditionally been home to some of Ireland's most successful artists and performers.
Malahide and Sutton are also property hotspots on the northern Dart line.
Daft.ie analysed the average asking prices for each stop on the new Luas extension. Properties close to the new Dawson stop came out on top, with an average asking price of €479,000.
The researchers at Daft.ie said convenience and affordability were key for pretty much everyone who lived and worked in Dublin.
Ronan Lyons, economist at TCD and author of the Daft Report, said the research highlighted the value of rail infrastructure, with prices for properties closer to stations above those for comparable properties elsewhere.
"With the imminent opening of the Luas cross-city extension, there are now 125 different rail stations in the Greater Dublin area," he said.
He added the new report also showed the value in looking around and seeing whether there were areas that offered good access to work and other amenities by being close to rail facilities, but at a lower cost.
"For policymakers, the fundamental question remains how best to link upswing in properties, like those seen around the cross-city Luas, and the money invested in rail," Prof Lyons said.