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off the rails
People living near Dart or Luas stops are paying over €4,000 a year more than average Dublin rent
That’s according to new research from Daft.ie.
RENTS FOR PROPERTIES close to Dart and Luas stops are now 15% more than the Dublin average of €1,968, according to new research from Daft.ie.
This means that renters living close to Dublin’s light rail network are now paying a premium of €4,020 per year compared to the average rent for Dublin.
The research released today analyses the average rental prices for three bed semi and two bedroom apartments within 1km of each rail stop in the Greater Dublin Area for the period between October 2018 and September 2019.
Commuters living along the Dublin coastline pay a particularly high premium to live close to a Dart station. Lansdowne Road station is now the most expensive to live by with rents averaging €2,886.
This is followed by Sandymount (€2,851), Grand Canal (€2,790) and Pearse (€2,748).
On the Luas, homes close to Spencer Dock on the Red Line command the highest average rents at €2,881, while those living near Charlemont (€2,708) pay the most on the Green Line.
Here’s a breakdown of the most and least expensive house prices in the areas analysed:
Most expensive (all stops and stations)
- Lansdowne Road – €2,886
- Spencer Dock – €2,881
- Sandymount – €2,851
- Grand Canal Dock – €2,790
- Pearse – €2,748
Most expensive areas (Luas Green Line)
- Charlemont – €2,708
- O’Connell St – €2,642
- Parnell - €2,642
- St. Stephen’s Green – €2,605
- Dawson St – €2,605
Most expensive (Luas Red Line)
- Spencer Dock – €2,881
- Mayor Sq – NCI – €2,661
- Jervis – €2,642
- George’s Dock – €2,624
- The Point – €2,617
Most expensive (Dart)
- Lansdowne Road - €2,886
- Sandymount – €2,851
- Grand Canal Dock – €2,790
- Pearse - €2,748
- Sydney Parade – €2,731
Commenting on the rental prices, Daft economist Ronan Lyons said: “When it comes to rail, density is important, as rail has large upfront costs and greater population density spreads those costs among more users.
This, Lyons said, is important to bear in mind “when planning where to build both transport and homes over the coming years”.
“If Ireland wants to make its transport system more sustainable, it should consider how to facilitate density.”
Note: Journal Media Ltd has shareholders in common with Daft.ie publisher Distilled Media Group.
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