Off the rails: Buyers pay 15% extra to live by the Luas
Commuters are paying a premium of 15% or over €60,000 extra in Dublin for a house that is located within 1km of a Luas stop.
This means that buyers are now paying an average of €446,000 for a property close to a Luas stop, which is €61,000 more than the average asking price in Dublin.
Ireland’s No.1 Property website has today launched their Luas stop-by-stop interactive house price maps and neighbourhood guides in association with TheJournal.ie, 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 67 Luas stops in the Greater Dublin Area for the period between July 2017 and June 2018.
Properties on the Luas Green line command the highest premium of any Luas properties, with average prices of €524,000 or €139,000 more than the Dublin average. On the Southside portion of the Green Line, the contrast is even greater – averaging out at a difference of €172,000 between Dublin in general and properties close to the Southside Green Luas line.
On the Red line, property values average out at €378,000 which is €7,000 cheaper than the Dublin average of €385,000.
Beechwood is the most expensive Luas stop to live by with average asking prices of €778,000. The least expensive stop is Cheeverstown with average asking prices of €197,000 for two and three bedroom properties within a kilometre of the stop.
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, 24 of the 35 stops have average property prices of more than half a million euro.”
“We are delighted to today launch our interactive Luas house price maps and neighbourhood guides sponsored by KBC in collaboration with TheJournal.ie. These guides, available on both our mobile and desktop platforms are the culmination of many, many hours of design work and economic analysis of our data. We are confident they will arm property hunters with invaluable information about the connectivity of these neighbourhoods as well as the overall demographics of the area – along with some very novel trivia.”
Over 1,000 property searches take place on Daft.ie every minute.
View the interactive house price maps and neighbourhood guides here: https://www.daft.ie/neighbourhood-guides/
Most expensive (All Stops)
Beechwood – €778k
Ranelagh – €721k
Milltown – €672k
Cowper – €662k
Most Expensive (Luas Green Line)
Beechwood – €778k
Ranelagh – €721k
Milltown – €672k
Cowper – €662k
Most Expensive (Luas Red Line)
Spencer Dock – €633k
Mayor Square – NCI – €569k
George’s Dock – €517k
The Point – €498k
Least Expensive (Luas Green Line)
Cherrywood – €418
Dominick – €411
Cabra – €394
Broombridge – €323
Least Expensive (Luas Red Line)
Hospital – €246
Fettercairn – €228
Citywest Campus – €220
Cheeverstown – €197
