Monthly Market Snapshot: August 2026

Published 22 Sep 2026

Introducing the August 2026 Monthly Market Snapshot, where we examine the latest trends and developments in the NI housing market.

The full report can be viewed below or accessed here: Download PDF

NI Housing Market remains resilient but some signs of moderation 

Conditions in Northern Ireland’s housing market remained resilient last month, according to PropertyPal’s latest monthly snapshot, but there are some signs of ongoing moderation in prices and activity.

Average prices are still rising, indeed at some of the strongest rates in the UK according to the leading property portal. However, they are doing so at a more modest 3.8% per annum when compared to 8.6% this time last year.

Rents also continued to move upwards at a rate above inflation. But at 3.7%, this has moderated considerably from two years ago when annual growth in rents was over 10%.

Jordan Buchanan, Chief Executive of PropertyPal, said:

"Northern Ireland house prices continue to grow at the fastest rate across the UK, up 3.6% over the last year. This compares to average UK prices falling by 0.4%, according to the latest data from Lloyds. There were approximately 2,150 properties agreed for sale during August, down 7% on last year's 2,300, with wider data points showing some cooling in market activity. The UK housing market has faced a challenging summer, with global events impacting inflation and interest rate expectations, weighing on consumer confidence.

"Even so, it's taking buyers exactly as long to agree a sale as it did a year ago, which suggests underlying demand remains healthy. That said, the outlook remains highly uncertain, with persistent inflation pressures and mortgage rates increasing. Financial markets are no longer pricing in rate cuts, and are now leaning towards the Bank of England raising interest rates before the end of the year."

Key takeaways:

• House prices: +3.6%
• Average house price: £244,467
• Average new build price: £276,801
• Average rent: £1,023
• Sales enquiries: -5.6% 
• Rental enquiries: -3%