More bad news for potential home owners...
Popular property website Daft.ie, has launched an online map showcasing the average asking prices for houses on rail services across Dublin.
The 'DART & Luas House Price Map: By Stop' is based on a sample of up to 7,000 three-bed, semi-detached properties that were up for sale between the months of January and November 2016, near the rail stations.
According to Daft, those living on the Dublin coastline pay on average the most for a property, with homes close to the Sandymount DART averaging at an incredible €788,000.
The survey found that the most expensive DART stops, based on average asking prices, were:
- Sandymount – €788,000
- Dalkey – €716,000
- Sydney Parade – €716,000
The most expensive Luas Green Line stops, based on average asking prices, were:
- Cowper – €679,000
- Charlemont – €628,000
- Beechwood – €626,000
And the most expensive Luas Red Line stops, based on average asking prices, were:
- Spencer Dock – €663,000
- Mayor Square – NCI – €542,000
- George’s Dock – €464,000
Ronan Lyons, an economist at Trinity College, and author of the Daft Report, had this to say about the survey:
The figures in this infographic highlight 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.
So, this report also shows the value in looking around and seeing if there are areas that offer 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. A good property tax system can make that connection.