Gay neighbours are good for property values, the first research of its kind in Ireland suggests.
Rents and house prices are surging faster in Ireland’s top 10 ‘pride-filled places’ than anywhere else in the country, Daft.ie said.
The data, which was released by the property website last night ahead of this weekend’s Dublin’s Pride Parade, is based on a comparison of property and rent prices with specific CSO data for Dublin.
The research, conducted by Ronan Lyons, economist and assistant professor of economics at Trinity College Dublin, found that around 8% of the population in the capital’s top 10 gay neighbourhoods are in same-sex relationships — almost three times the rate elsewhere in the city.
These areas saw their share in same-sex relationships rise from 5.6% in 2011 to 8% in 2016, while the rate elsewhere in the city rose by just 0.2 points.
The research shows that Stoneybatter has the largest concentration of same-sex couples in the capital, with almost one of 10 couples (8.9%) in a same-sex relationship, followed closely by Grand Canal Dock at 8.3%, Christchurch at 8.2%, Dublin 8 at 7.9%, and Drumcondra at 7.9%.
Ranelagh (7.6%), Rathmines (7.6%), Smithfield (7.5%), East Wall (7.3%), and Dublin 10 (7%) complete the top 10.
“Unsurprisingly, this strong level of demand in these neighbourhoods is pushing up sale and rental prices, as the figures show,” Mr Lyons said.
Rents in these areas are now 7% or €150 per month higher than neighbouring areas in the city.
Just as rents have been rising faster in these precincts, so too have house sale prices.
In the last five years alone, house prices have risen by 72% in these areas, compared with a 60% rise in over 30 neighbouring districts that were also analysed.
Daft.ie spokesman Martin Clancy said the data serves both as a celebration and barometer of social change in Ireland over the last number of years.
“Similar research has been carried out in the United States, but for Ireland, this is a first and something which is both interesting and informative about the evolution of Dublin’s neighbourhood’s and the clear emergence of pride-filled places in the capital,” he said.
Meanwhile, traffic and travel restrictions will be in place in Dublin from the annual pride parade.
Participants will gather at St Stephen’s Green South from 11am for a pre-parade rally before the parade starts at 2pm.
It will travel along Cuffe St, Kevin St, Patrick St, Nicolas St, High St, Bridge St, Church St, and North King St before finishing at Smithfield Square.
St Stephen’s Green South will be closed to traffic from 10am to 6pm and the Haymarket in Smithfield will be closed between 6am and 10pm.
Pedestrian and local access will be maintained.