The big development story of the week was undoubtedly the £14.15 billion transport plan for Dublin city announced by the Taoiseach, Mr Ahern. The plan is likely to have a significant effect on property values, creating new "desirable" locations to rival the south Dublin/east coast dominance in the capital's housing market.
Availability of public transport has always played a big part in the valuation of property. A detached four-bedroom home in Rowanbryn, Blackrock, Co Dublin, for example, was for sale in September 1983 for £45,000. In September 1984, two months after the DART had started running, a four-bedroom home in Rowanbryn (the advertisement doesn't record if it was the same house) was priced at £49,500.
By September 1986, four-bedroom homes in Rowanbryn were advertised in the Irish Property Times for £57,000, a 40 per cent increase on the pre-DART price. Contrast this with the average increase of 10 to 15 per cent in the period 1982 to 1987. By the late 1980s, the phrase "close to DART line" was unavoidable in the houses and lands advertisement columns of The Irish Times and other newspapers.
With the timetable for the Tallaght to city centre Luas line being maintained - it is due to open at the end of 2002 - its effect on house prices should be evident in about 12 to 14 months' time. Similarly, the Sandyford to St Stephen's Green line is expected to be open by 2003. It is to be built first as light rail and then converted to a metro system. Traffic congestion in the area should be significantly eased as trains on the light-rail line will run every three minutes.
With housing densities increasing, there is likely to be much apartment development along the route, with premium prices being paid for homes with easy access to Luas. The same holds true for the city centre, Harold's Cross, Terenure, Rathfarnham to Dundrum route. There are already plans to extend the Luas light-rail line from Sandyford to Leopardstown, Central Park, Carrickmines and Cabinteely. A new north-south Luas line will rejuvenate areas on the northside from Ballymun via Whitehall to the city centre, while a spur from Whitehall via Coolock to Kilbarrack and the docklands will give commuters and home owners in this area a choice of DART or Luas.
The docklands will benefit considerably, in line with State policy. A new east-west Luas line will run from Lucan through Ballyfermot, Dolphin's Barn and the south city centre to the docklands via the proposed Macken Bridge over the Liffey. This will open up the potential of the docklands for employment, while the value of traditional artisan housing in East Wall is likely to soar once it is two or three tram stops from Merrion Square.
The line from Abbey Street to Connolly is also being extended into the docklands.
There will be a new city-centre Quality Bus Corridor (QBC) allowing passengers on other QBCs to access all parts of the centre and to interchange with DART, Luas and metro stations. It will also serve cross-city services.
But the metro offers the most potential from a development point of view. The trains on the metro system are expected to be in the region of 120 metres long as opposed to 40-metre trains on the LRT. Because of the dedicated, separated route, trains on the metro should be able to run every minute, if necessary, at peak times, giving it the ability to shift a lot of people very quickly.
According to the Taoiseach, it will be extended from Dublin Airport to Swords and another metro line from Tallaght West via Tallaght and Kimmage will enter a tunnel in the south city. An orbital line will run from a spur at Finglas via Blanchardstown and Clondalkin to Tallaght.
Important interchanges between metro and DART will be built at Sillogue in the north city centre and at Dundrum on the southside. Land in these locations could appreciate significantly in the years ahead.
To tie it all together, a tunnel is being built under the Liffey from Heuston station to East Wall to link with rail services arriving at Connolly and Heuston. The new interconnector will have stops at Pearse station and in the docklands, enabling passengers travelling from the Kildare line to connect to the northern lines.
While the Luas lines will serve to rejuvenate the more built-up areas, the outer suburbs will also benefit. House prices are likely to rise in Co Kildare as both the Kildare and Maynooth lines will be electrified. Extra tracks from Connolly to north of Howth Junction and from Cherry Orchard to Sallins will also serve to open up Co Kildare to increased development.
In Co Meath, the reopening of the Navan Railway line, via a spur from Clonsilla, to serve Dunboyne and Dunshaughlin will open up large-scale development opportunities. The Navan corridor is already earmarked in the Strategic Planning Guidelines as an area with significant potential.
The projected city development at Navan together with the rail link will strengthen the argument for development.
Mr Ahern has indicated that in order to facilitate development, new rail stations may be created. Co Wicklow appears to have been left out of the public transport plans. This factor has not changed Wicklow County Council's disregard for the Strategic Planning Guidelines, which mitigate against development of the rural hinterland that is not even served by Dublin Bus. A partial DART service operates to Greystones and when the full service is in place, according to the council's logic, it should serve much of north Wicklow. But the bad news for ambitious development plans for Wicklow town and Arklow is that the Taoiseach's announcement of the public transport vision did not include any spending on this line.
There was further bad news for the county from the National Roads Authority, which indicated that a new Greater Dublin Orbital Route will leave Wicklow out. It is to link development centres at Drogheda, Navan and Naas-Newbridge. It will not be possible to extend this road into Wicklow due to the height of the Wicklow mountains.
