Dublin residents paying extra €61,000 to live near the LUAS
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Dublin residents paying extra €61,000 to live near the LUAS

A new report reveals that Dublin residents are paying over €60,000 more to live close to a LUAS stop.

The report from Daft.ie reveals that commuters in the capital are paying a premium of 15%, or over €60,000 extra, for houses that are located within 1km of a Luas stop.

In other words, people are paying an average of €446,000 for a property close to a Luas stop, which is €61,000 more than the average asking price in Dublin.

The property website analysed the average asking prices for two and three bedroom properties close to each of the 67 Luas stops in the Greater Dublin Area between July 2017 and June 2018.

The conclusion is that the homes close to the Luas Green Line command the highest prices of any Luas properties, with average prices of €524,000 or €139,000 more than the Dublin average.

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Beechwood is the most expensive Luas stop to live by with average asking prices of €778,000.

The least expensive stop is Cheeverstown with average asking prices of €197,000 for two and three bedroom properties within a kilometre of the stop.

Speaking about the results of the survey, Martin Clancy from Daft.ie said: "Access to transport infrastructure is, unsurprisingly, driving up premiums for properties with good connectivity. For example, on the Luas green line, 24 of the 35 stops have average property prices of more than half-a-million euro."

Daft.ie have also published an interactive map which shows the differences in the house prices, according to each of the Luas stops.

Most expensive (All Stops)

Beechwood – €778k
Ranelagh – €721k
Milltown – €672k
Cowper – €662k

Most Expensive (Luas Green Line)

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Beechwood – €778k
Ranelagh – €721k
Milltown – €672k
Cowper – €662k

Most Expensive (Luas Red Line)

Spencer Dock – €633k
Mayor Square – NCI – €569k
George’s Dock – €517k
The Point – €498k

Least Expensive (Luas Green Line)

Cherrywood – €418
Dominick – €411
Cabra – €394
Broombridge – €323