Commuters are paying a premium of 15% or over €60,000 extra in Dublin for a house that is located within 1 km of a Luas stop.
Buyers are now 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 research, by Daft, analysed the average asking prices for two and three bedroom properties close to each of the 67 Luas stops in the Greater Dublin Area for the period between July 2017 and June 2018.
Properties on the Luas Green line command the highest premium of any Luas properties, with average prices of €524,000 or €139,000 more than the Dublin average.
On the Southside portion of the Green line, the contrast is even greater – averaging out at a difference of €172,000 between Dublin in general and properties close to the Southside Green Luas line.
On the Red line, property values average out at €378,000 which is €7,000 cheaper than the Dublin average of €385,000.
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 1km of the stop.
“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,” commented Martin Clancy from Daft.ie.