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Value of house near Luas

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  • 07-03-2010 8:14pm
    #1
    hantari
    Closed Accounts Posts: 12 ✭


    Take the following example:

    There is a house situated near the LUAS Red line.

    When the transport 21 initiatives are finished and Dublin has a more comprehensive public transport system, Would the value of the house go up (Because you have access to more places) or go down (Because there are now more places in the city where you can live beside the luas)?

    Assume that the housing market remains the same. My question is based purely on whether more luas lines (Or any public transport) would increase or decrease the value of the house.


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    #2
    GerardKeating
    Registered Users Posts: 7,650 ✭✭✭GerardKeating


    hantari wrote: »
    Take the following example:

    There is a house situated near the LUAS Red line.

    When the transport 21 initiatives are finished and Dublin has a more comprehensive public transport system, Would the value of the house go up (Because you have access to more places) or go down (Because there are now more places in the city where you can live beside the luas)?

    Assume that the housing market remains the same. My question is based purely on whether more luas lines (Or any public transport) would increase or decrease the value of the house.

    It all houses have equal access to public transport, it would negate the LUAS (or DART) premium built into the existing price of the house and it might fall, there will always (for the next 20/30 year) be large tracts of house with bad public transport, so the luas will still give the property a premium..


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    #3
    bobbysands81
    Registered Users Posts: 7,208 ✭✭✭bobbysands81


    hantari wrote: »
    Take the following example:

    There is a house situated near the LUAS Red line.

    When the transport 21 initiatives are finished and Dublin has a more comprehensive public transport system, Would the value of the house go up (Because you have access to more places) or go down (Because there are now more places in the city where you can live beside the luas)?

    Assume that the housing market remains the same. My question is based purely on whether more luas lines (Or any public transport) would increase or decrease the value of the house.

    Without doubt it should increase the value of your house.

    For every house built in close proximity to the LUAS there will be 30 that aren't.


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    There may be factors which aren't being taken into the equation. For example- Adamstown was supposed to be wonderful value because of its rail link to the city centre- however people didn't stop to check whether the capacity was there, and now because of this (and for a load of other reasons, not least management charges etc), prices are in freefall.....

    Proximity to a Luas line may be a selling factor- however I would be hesitant to suggest it would have a major bearing on sale prices. It might appeal to a particular demographic more so than others- other people might have more interest in a garden, or proximity to schools etc. It really depends on the buyer- and as Publius Sirius once said- Everything is worth what its purchaser is willing to pay for it.........


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