Homeowners in Dublin are paying an average of 10% more to live near a railway line, figures released yesterday show.
A report by Daft.ie found the most expensive DART station by which to live was Dalkey in the south of the city, where the average property costs €828,000.
That’s followed by house prices at Sandymount, where you can expect to pay around €826,000 for a house, then Landsdowne Road, where houses cost €798,000.
The typical price of a three-bedroom family home near one of the rail stations in Dublin stands at €439,000 - just less than 10% than the average price for this kind of property.
Trinity College economist Ronan Lyons has said the report shows publicly-funded investment into transport infrastructure has had private effects by increasing the values of people’s homes.
He added: “In the last three decades, transport infrastructure in Greater Dublin has changed beyond recognition. With more rail stations and a Metro due to open in the coming years, whether taxpayers get any dividend on the investments they make remains a question that only policy makers can answer.”
Researchers analysed prices for two and three-bedroom homes located within 1km to each of the 98 DART and Luas stops and stations in the Greater Dublin Area.
The report shows the average house by the Green Luas line costs €535,000, €144,000 more than a dwelling near the Red line.
Properties near the Beechwood Luas stop average at €783,000, the most expensive on the Green line.
Those living near Spencer Dock pay €679,000 – the most expensive area on the Luas Red line.
