Prices for houses red-hot along the Luas Red Line

By Brendan Grehan

THE HIGHEST average prices for homes along the southside section of the Red Line Luas is at Heuston station, a survey of house prices from www.daft.ie has showed.

Properties around Heuston come in at an average of €376,000 and they decrease as you travel out on the Red line before rising at Tallaght and Saggart.

Luas red line house prices map 15 December 2016

The figures shown in the survey are average asking prices for 3-bed semi-detached properties controlling for time, size and type for each of the stations on the Luas and Dart lines. The sample of nearly 7,000 properties for sale comes from the period between January and November 2016.

At James’s the average price is €326,000. At Fatima it goes up to €357,000 and increases to €367,000 at Rialto, before dropping to €361,000 at Suir Road. The lowest price along the red line is €146,000 at Cheeverstown. Saggart tops the red line southside section at €272,000 with Tallaght coming in at €252,000.

The price survey covers both Luas and Dart lines and will arm property hunters with a wealth of knowledge about the average asking prices on some of their favourite rail lines across the capital.

Ronan Lyons, economist at TCD and author of the Daft Report, said that the figures in this infographic highlight the value of rail infrastructure, with prices for properties closer to stations above those for comparable properties elsewhere.

He told The Echo: “With the imminent opening of the Luas Cross-City extension, there are now 125 different rail stations in the Greater Dublin area.

"So, 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.

"For policymakers, the fundamental question remains how best to link an 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.”

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