herald

Tuesday 23 October 2018

Rents up by 3pc for commuters living close to city Luas and Dart stations

Rents close to Sandymount Dart average €2,282 a month
Rents close to Sandymount Dart average €2,282 a month

Renters who live near Dart and Luas stops in Dublin have seen the costs of accommodation rise.

Rents for properties close to Dart stations and Luas stops rose by 3pc to an average of €1,770 a month in the first three months of 2018, according to research from Daft.ie.

This means that renters living close to Dublin's light rail network are now paying a premium of €3,360 a year compared to the average rent for Dublin.

Daft.ie said research it did on stop-by-stop rental prices on Dart and Luas stops, which is sponsored by KBC Bank, shows that commuters on the Dublin coastline pay the most.

Expensive

The research analysed the average rental prices for one and two-bedroom properties close to each of the 125 stops and stations in the greater Dublin area for the period between April 2017 and March 2018.

Rents close to the Sandymount Dart are averaging €2,282 a month.

These renters pay on average double what those living by the Cheeverstown Luas spend, a stop that has the least expensive rents at €1,056 a month.

Rents near Dart stations are among the most expensive analysed.

The Pearse, Lansdowne Road and Dalkey stops account for some of the most expensive to live close to. It costs €2,226 to rent near Pearse Station, with Lansdowne Road costing €2,175 a month and Dalkey €2,205.

On the Luas, homes close to Spencer Dock on the Red Line command the highest average rents at €2,260, while those living close to the Charlemont stop pay most on the Luas Green Line, at €2,091.

Daft.ie also analysed the average rents for each stop on the Luas Cross City Green Line, which opened in December.

Properties close to the new Dominick stop came out on top, with average monthly rents of €1,894.

Daft.ie economist and lecturer at Trinity College Dublin, Ronan Lyons, said it costs far more to live near good transport links.

He said the increase seen in the Cross City Luas stations between the last quarter of last year and the first quarter of this year is similar to the rest of the city for rents.

He added both of these rose by an average 3pc in the same period.

Prof Lyons said sale and rental prices rose ahead of the new Luas Green Line opening.

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