NI Housing Market Update: Q1 2026

Published 28 Apr 2026

Introducing the Q1 2026 edition of our Housing Market Update, where we examine the latest trends in the NI housing market.

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

Key Takeaways from Q1 2026

• Average property price: £237,285
• House prices: +5%
• Sales enquiries per property: 38
• Number of sale agreed properties: 5,900
• The average time to reach ‘sale agreed’ is 45 days
• Average rent: £1,004 per month
• Rental growth: +4.6%
• Rental enquiries per property: 56

The number of enquiries per property listed for sale on PropertyPal increased by more than a quarter in the first three months of this year as underlying market demand remained exceptionally strong, according to our latest quarterly report.

There was on average 38 enquiries per property listed for sale on PropertyPal in Q1 2026, an increase of 27% on the same period last year. This strong demand meant that properties sold more quickly, with the average time to reach sale agreed at 45 days, down from an average of 47 days in the same period last year.

With strong demand and limited supply, house prices continued to increase. Sales prices increased by an average of 5% in the quarter when compared to the same period of last year.

In the rental market, demand also remains strong, but there are signs that the intensity has stabilised in recent months and that whilst rents should continue rising through 2026, this is expected to be at more moderate rates than those seen in recent years.
 

Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the Q1 2026 housing market:

"Northern Ireland’s housing market started 2026 on stable footing, with approximately 5,900 properties agreed for sale in the opening quarter and house prices growing by 5% year-on-year, amongst the fastest growth across the UK.

Overall sentiment has remained broadly positive, but heightened economic volatility in March has shifted the outlook. Rising inflation expectations have pushed up rate expectations, feeding through quickly to higher mortgage pricing and adding pressure to the market. While short-term inflation looks likely, signs of a softening economy create a more nuanced and challenging backdrop for the Bank of England’s decision later this week. Holding interest rates at current levels, appears the most likely outcome.

Despite these macroeconomic headwinds, underlying housing demand remains exceptionally strong, with estate agent enquiries on PropertyPal well above long-term norms. Indeed, Q1 saw a 27% increase in enquiries per listing, pointing to continued strength in market appetite.

Supply-side constraints remain the key factor limiting activity. Encouragingly, resale supply has improved, with approximately 22,500 residential listings for sale in 2025, up 6% on 2024, giving buyers more choice and supporting confidence. By contrast, new homes supply remains well below historic levels, reflecting a range of structural constraints, and this will continue to weigh on overall market activity through 2026 and beyond."
 

Discussing the rental market, Jordan Buchanan adds:

"Rising rents have been a defining feature of the Northern Ireland housing market for several years. The average rent in Q1 2026 is now £1,004 per month, with annual growth of 4.6%, pointing to a continued moderation in rental inflation compared to recent years.

Supply constraints have been a persistent challenge, though there are signs this may have bottomed out. Indeed, 15,500 new rental properties were added to the market in 2025, an increase of 7% year-on-year and a much-needed improvement given the pressures in the sector.

Demand remains elevated, although there are signs the intensity has stabilised in recent months, partly reflecting a pickup in mortgage activity in the sales market. In the opening three months of this year, there were 56 enquiries per rental listing, up 14% on last year, and still well above long-term norms.

We expect rents to continue rising through 2026, albeit at more moderate rates than recent years, likely in the 4% to 5% range, as structural supply imbalances continue to impact market conditions."