On Metro north line - likely increase in house value?

R

rapid

Registered User
Messages
32
I live along the route of the proposed Metro north line, within easy walking distance of the stop at DCU.

Any estimate as to how this would increase the value of my house? (House is currently worth around €550,000).

When would any increase be reflected in the value? (e.g. from the announcement of the route or only when the line is up and running?)
 
rapid said:
When would any increase be reflected in the value? (e.g. from the announcement of the route or only when the line is up and running?)
Click to expand...
It would only be reflected in the value when possible buyers are willing to pay more for it. This may already have happened and it may never happen!
 
The line may never be built. Or it may be built but along a different route. It's too early to tell what the value of this may or may not be. Perhaps your house will decline in value at a lower rate than other houses not on the route, which is a good thing I suppose.
 
Might make it easier to sell, but dont think it would add much to the price at this stage. The LUAS (sandyford) had good price increases along the line, but only after it opened. Might be had to sell though during excavation stage near your house.
 
It will add exactly 7.3% value p/a peaking at 9.6 on the week before the line opens and levveling after that for a period of 2 years.

Either that or just wait and see, 5 odd years is still a way yet.
 
I am surprised to read some of the silly and slightly sneery replys to Rapids questions, especially from the frequent posters!!
The proposed Metro will undoubtly further improve house prices in Swords, Kinsealy and Malahide.
 
monkeyboy's "silly" reply illustrates that we are clearly in the realm of pure speculation in attempting to answer the original question. There is no way to answer the question. Nobody can predict the future.
 
ClubMan said:
There is no way to answer the question.
Click to expand...
I'd disagree and claim that I did answer the question ;)
Any raise or fall in market prices will be dependant on buyers, not on the metro line. How the proposed metro line will change buyers views on the property is unknown. Asking when it might change the views is going a step further and totally unrealistic to ask for an answer with any degree of confidence, hence the answers which were given!

Sharky said:
The proposed Metro will undoubtly further improve house prices in Swords, Kinsealy and Malahide.
Click to expand...
The proposed metro line has to fight against increasing interest rates, current sentiment to the housing market, etc. etc., how you can state that it will "undoubtly further improve house prices" is beyond me!
It has the potential to help improve prices (or some will feel help mitigate crashes), but nothing is certain and speculation on such is more or less a wasted effort.
 
I think the original poster was asking for peoples opinions on what effects this new Metro would have on house prices. Not an actual figure, obviously we cant prdict the future!
 
To answer what the original posters overall question might have been - there is every chance that the Metro will increase demand for houses within the catchment area. This is pretty much universal across the world - access to rapid transit (going towards somewhere usefull) tends to increase the demand for housing stock.

There is also a chance that many other factors will decrease demand.

It is not possible to accurately predict the net effect of all the factors, but it is possible to say that all other things being equal (which they invariably aren't) having a metro within walking distance will probably lead to increased house prices.

z
 
However it's impossible to predict if your house will be worth more in five years time (metro or no metro) than it is now, especially with the market seemingly at a peak at the moment.
 
Sharky said:
I am surprised to read some of the silly and slightly sneery replys to Rapids questions, especially from the frequent posters!!
The proposed Metro will undoubtly further improve house prices in Swords, Kinsealy and Malahide.
Click to expand...

I did state the only fact relevant to measuring this accurately.....wait and see!
 
This Sunday Business Post article from 2004 on the luas effect might help:
[broken link removed]

I would say it will add 5-10% to the value compared to areas with poor transport infrastructure. With improving infrastructure in general with expanding Luas and Dart in the past few years, the effect won't be as big as if it had been implemented a few years ago IMO. Definitely a plus though :)
 
whathome said:
With improving infrastructure in general with expanding Luas and Dart in the past few years, the effect won't be as big as if it had been implemented a few years ago IMO. Definitely a plus though :)
Click to expand...

Just to emphasise how pointless the speculation is this early is that the Metro may have an even greater effect on prices in a positive way than the Luas due to much greater road congestion and commuter frustration in 5 years. If cars keep being put onto the roads at the rate they are this could well happen.

The Luas also popped up during the peak of the property boom and this is not likley to be the case when the Metro starts to show actual signs of arriving this may lead to increases less than the Luas.
It has got to be positive Im sure but to specualate at this stage is pointless all you can do is list reasons why it may and to put a number on it you may as well say 7.3%:D p/a.
 
As each new rail option is developed in the Dublin area the effects on house prices becomes smaller. In theory the Metro could devalue houses along the Dart and Luas lines. People who want a direct Rail/Tram service to the city centre will have more options as time goes by.
 
You must log in or register to reply here.
Back
Top