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.
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.
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.
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
Daft.ie/The Property Week - 09 Oct '18
Interactive Luas map click below: https://www.daft.ie/neighbourhood-guides