Houses prices along new Luas Cross City line soar by 15%

And one Dublin location is the best for the most expensive average house.

The values of houses near the new Luas line have soared by about 15%, according to new data released by Daft.ie - writes dublinlive.ie.

The report said three-bedroom homes along the route extension of the green line have seen a dramatic rise in values compared to just 6% for similar homes near the other railway lines.

The research also showed that homes along the Dublin coastline average out as the most expensive.

And properties along the Dart line bring with them a premium and account for four of the top five dearest places to live.

Homes close to the Sandymount stop average out at €784,000, Lansdowne Road at €737,000, Sydney Parade at €706,000 and Dalkey at €699,000.

The other stop on the top five is Beechwood in the Ranelagh area where homes along the Luas line average out at €727,000.

The most expensive places to buy property along the Luas Cross City are near the Dawson stop, Trinity and Westmoreland which are all costing€519,000.

Ronan Lyons, economist at Trinity College Dublin, said: "It is well known that transport infrastructure can have a big impact on property values.

"Over the last 20 years, Ireland has added lots of new infrastructure, including motorways and the Dart.

"How these investments pay for themselves is, of course, a different question.

"One option increasingly considered elsewhere is value capture - in other words, where the taxpayer brings about an increase in wealth by paying for new infrastructure, it shares in part of that new wealth."

Martin Clancy, from Daft.ie , said: "Convenience and affordability are two key concerns for pretty much everyone who lives and works in Dublin.

"This map gives a great overview of property prices across the capital and is a fantastic visual reference for anyone who is considering buying or selling close to the Luas or Dart."

Read also more news of Dublin on our site.

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