Dart dividend beats Luas lift when it comes to house prices

Buy a house near the Dart, rather than the Luas, if you want higher house prices and an easy commute, new figures from Daft.ie show.

According to the property portal, three-bed houses near the Dart on the coast in Sandymount are the most expensive in Dublin, with the average price for a three-bed semi-detached home coming in at €788,000.

It is followed by Dalkey (€716,000); Sydney Parade (€716,000) and Sandycove and Glasthule (€705,000).

While house prices on the Green Luas line, which runs from St Stephen’s Green to Bride’s Glen, are also significant, they still lag behind those near the Dart, with homes close to the Cowper stop on the Green Line commanding the highest averages prices (€679,000).

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On the Luas Red Line, those living in the city centre pay the most for accommodation, with properties near the Spencer Dock stop averaging €663,000.

Ronan Lyons, economist at TCD and author of the Daft Report, said the figures 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 link, there are now 125 different rail stations in the greater Dublin area. So, the 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,” Mr Lyon said.

The cheapest three-bed properties on the southbound Dart line are in Bray (€369,000); around Clongriffin on the northside (€280,000); in Cherrywood on the Luas Green Line (€375,000); and around Cheeverstown on the Luas Red Line (€146,000).

Luas extension

Canny commuters looking for easy access to public transport without hefty house prices could consider acting now to buy a property along the route of the new Luas extension, which will link the Luas Red Line, that goes from the city centre to Tallaght, to the Green Line.

The Luas Cross City will bring 13 new stops, with eight of these in the heart of the city, and will run from St Stephen’s Green to Broombridge on the north side, passing Stoneybatter and Phibsborough. It is due to be ready by the end of 2017.

While price increases will have already been factored in to property prices along the new line to a certain degree, a further lift is likely once it is running.

According to Daft.ie, properties close to the new Dawson stop in the city centre are the most expensive, with an average price of €479,000.

Prices for three-bedroom homes are also significant around the new DIT campus at Grangegorman – at €376,000 – and €378,000 in Phibsborough – but fall to €323,000 in Cabra and €293,000 in Broombridge.