€130K RISE IS RAILY PRICEY
Home buyers pay €512k to live near transport routes
FAMILIES hoping to buy a home near a DART or Luas stop will pay nearly €130,000 more, figures have revealed.
This means buyers near transport links in Dublin must shell out €512,000 – 34% over the average asking price of €383,000.
House costs in these coveted locations rose by 4% between January and March of this year, according to the latest report from Daft.ie.
Prices are now so high that Friday night’s €500,000 Euromillions Plus winner wouldn’t be able to pay outright for a home along the capital’s southside DART line.
Daft.ie’s Raychel O’connell said: “This shows just how strong demand is for light rail public transport options, and how important it may be that the Metrolink plans stay on track.”
Economist Ronan Lyons told how he expects prices to remain high along the routes.
He added: “When people buy homes, they typically buy them for the long-term.
“It’s envisioned Metrolink will be up and running by 2027, less than 10 years away.”
Punters must fork out an average of €670,000 for the privilege of owning a place along the capital’s southern coastline – up €45,000 from last year.
And the news gets worse near specific DART stops. The average house in Sandymount costs €870,000, while in Dalkey buyers must pay €848,000. Anyone hoping to live near Lansdowne Road will have to shell out €821,000 for a home, while those looking at Sydney Parade will pay €756,000. Along the Luas green line, homes closest to the Beechwood stop command the highest average asking price at €788,000. Those living close to the Spencer Dock, where the average house costs €724,000, paid the most along the Luas red line. Prices along the proposed Metrolink – which is scheduled to connect the city centre with the airport by 2027 – are also going up. The most expensive homes in the current plan are closest to the Charlemont stop, with the average €724,000, while homes near the proposed Tara Street stop are €573,000. Ballymum may yet prove to be a soughtafter location with average costs along transport routes there coming in at €285,000.