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dart-nomics
Renting near Dublin's train lines is expensive (and it's getting pricier)
There’s a premium to be near a Dart or Luas stop.
WITH RENTS CURRENTLY top of the political agenda, Daft.ie has crunched the numbers about how expensive it is to live near Dart and Luas stops in Dublin.
Looking a sample of 16,000 rental homes near the 125 rail stops, Daft.ie found that only one stop has properties nearby with average rents below €1,000.
That was in Cheeverston in west Dublin on the Red Luas Line with average rents of €950.
The rents are based on two-bedroomed apartments near the stops in question.
The most expensive stops in the Dublin area are the Sandymount Dart Station and at the Spencer Dock station on the Luas Red Line. Renters near these stops pay a premium of €1,920 per month.
A corresponding survey from just five months ago shows how prices are increasing with properties near Sandymount seeing rents of €1,908.
On average, the cost of a property close to a Dart station is €1,530, close to the Luas Green Line it’s €1,553 and on the Luas Red Line it’s €1,357.
The research also looks at the cost of rental properties near the extended Luas Green Line which is due to be completed next year and will link the two lines.
Of those stops, the city centre stops at Westmoreland Street, Dawson Street and Trinity all have average rents of €1,663.
Most expensive Dart stops (average monthly rents)
- Sandymount – €1,908
- Dalkey – €1,856
- Sydney Parade – €1,854
Most expensive Luas Green Line stops (average monthly rents)
- Milltown – €1,737
- Cowper – €1,691
- Charlemont – €1,670
Most expensive Luas Red Line stops (average monthly rents)
- Spencer Dock – €1,920
- George’s Dock – €1,770
- Mayor Square – NCI – €1,749
Most expensive Luas Green Line extension stops
- Westmoreland – €1,663
- Trinity – €1,663
- Dawson – €1,663
Economist Ronan Lyons who compiled the report says that the figures highlight how the value of being close to the rail network is factored into the price paid by renters.
“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,” Lyons argues.
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.
Note: Journal Media Ltd has shareholders in common with Daft.ie publisher Distilled Media Group.
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