Monthly Market Snapshot:

Introducing the April 2025 edition of our Monthly Market Snapshot, where we examine the latest trends and developments in the Northern Ireland housing market.&nbsp;&nbsp;The full report can be viewed below or accessed here: <a href="https://content-hub.propertypal.com/media/Monthly_Snapshot_Apr25_v3_aed36b8247/Monthly_Snapshot_Apr25_v3_aed36b8247.pdf">Download PDF</a>

Sales Enquiries

+ 7%

House Sales

+ 5%

Website Traffic

+ 9%

Key highlights from the report include:

April marked the busiest month for residential property sales in four years, according to PropertyPal’s latest market report. House sales were 5% higher versus April 2024 and sold on average 13 days faster. The leading property portal indicates more than 2,200 homes were sold last month, with the average time to reach sale agreed at 37 days. PropertyPal also had a significant uplift in website traffic, with 9% more visits than a year ago. Sales enquiries were also up 7% in the same timeframe. Meanwhile, house prices have continued their upward trend with an annual increase of 8.9%, while the average new build price reached £264,104, marking an increase of 8.3% from April 2024.Key findings (vs. April 2024):<ul><li>House sales: +5%</li><li>PropertyPal website traffic: +9%</li><li>Sales enquiries: +7%</li><li>Rental enquiries: -4%</li><li>Average price of a new build: +8.3% (£264,104)</li><li>Average listed time to reach sale agreed: 37 days &nbsp;</li></ul><blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the housing market: April saw continued momentum in the Northern Ireland housing market, with activity levels expected to remain strong into the summer. Leading indicators such as website traffic and estate agent enquiries have both grown over the past year, helping drive a 5% increase in sales volumes compared to April 2024. The time taken to find a buyer continues to trend below the long-term average, highlighting the strength of underlying demand. This robust performance has contributed to a further acceleration in price growth, with the average property now valued at around £233,000, up 8.9% year-on-year and among the highest rates of growth across any UK region. The recent decision by the Bank of England to cut interest rates is expected to pass through in the form of slightly lower mortgage rates in the coming months, which should add further support to the market. That said, the medium-term outlook remains more uncertain. The UK &amp; N.Ireland is expected to see weaker economic growth resulting from global trade tensions and domestic fiscal pressures. &nbsp;</blockquote>

Introducing the April 2025 edition of our Monthly Market Snapshot, where we examine the latest trends and developments in the NI housing market.

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Monthly Market Snapshot: April 2025

Introducing the May edition of our Monthly Market Snapshot, where we examine the latest trends and developments in the Northern Ireland housing market.&nbsp;&nbsp;The full report can be viewed below or accessed here: <a href="https://content-hub.propertypal.com/media/Monthly_Snapshot_May25_5b50a842f2/Monthly_Snapshot_May25_5b50a842f2.pdf">Download PDF</a>

The Northern Ireland housing market remains in a stable position with house prices rising and demand resilient, according to PropertyPal’s latest market report.&nbsp;The leading property portal indicates that almost 2,400 homes were sold last month (4% more than in May 2024), with the average time to reach sale agreed at 38 days.PropertyPal also had a firm uplift in website traffic during May, with 6% more visits compared to the same month last year.Meanwhile, house prices have continued their upward trend with an annual increase of 8.6%, while the average new build price reached £260,100, marking an increase of 8.3% from May 2024.Key findings (vs. May 2024):<ul><li>PropertyPal website traffic: +6.2%</li><li>House sales: 2,366 +4%</li><li>Average length of time to reach sale agreed: 38 days</li><li>Average price of a new build: £260,100 +8.3%</li><li>Rental enquires: -0.9% &nbsp;</li></ul><blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the housing market: The Northern Ireland housing market remains in a stable, if not robust position, with many key indicators settling around their long-term averages. In May, there were around 2,400 newly agreed sales, up 4% on this time last year, and the average time to secure a buyer was 38 days, in line with recent trends.Looking ahead, demand-side signals remain encouraging, with both PropertyPal website searches and estate agent enquiries rising by 6% year-on-year. Recent wage growth and slight improvements in interest rates have helped support both buyer confidence and overall house price growth.Although the broader economic outlook remains uncertain, the fundamentals of the local market are proving resilient, and with further rate cuts anticipated, conditions are likely to stay favourable over the summer months. &nbsp;</blockquote>

Introducing the May 2025 edition of our Monthly Market Snapshot, where we examine the latest trends and developments in the NI housing market.

Monthly Market Snapshot: May 2025

NI Housing Market Update:

Introducing the Q1 2025 edition of our Northern Ireland Housing Market Update, where we examine the latest trends and developments in the Northern Ireland housing market.&nbsp;&nbsp;The full report can be viewed below or accessed here: <a href="https://content-hub.propertypal.com/media/Housing_Market_Trends_Q1_2025_73878924aa/Housing_Market_Trends_Q1_2025_73878924aa.pdf">Download PDF</a>

The Northern Ireland housing market made a strong start to 2025, with approximately 6,200 agreed sales in the first three months of the year and homes reaching 'sale agreed' 16 days faster than the historical average, according to PropertyPal’s latest quarterly report.The situation with house prices is also robust, with the price of an average home in Northern Ireland increasing by 8% on an annual basis when comparing Q1 2025 against Q1 2024. Price growth was seen across all council areas on both a yearly and quarterly basis, with Derry City &amp; Strabane experiencing the highest rise as average prices increased by 14% over the year.In the rental market, the average rent reached £960 per month in the quarter, an increase of 8.5% on last year, and interest continued to be strong, with an average of 49 enquiries for each advertised rental property. All council areas saw rents increase on a quarterly and annual basis, with Lisburn &amp; Castlereagh seeing the highest regional rent price growth at 10.5%.<blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the housing market:The Northern Ireland housing market has made a strong start to 2025, with approximately 6,200 agreed sales in the first three months of the year, broadly in line with the long-term average. Encouragingly, homes are selling faster than usual, taking an average of 47 days to secure a buyer and more than two weeks quicker than the historical average. This points to continued strength in underlying demand. Supporting this, buyer enquiries per property increased by 15% compared to the previous quarter, signalling strong momentum that is likely to carry into Q2.On the pricing front, the market has seen further acceleration. The average property now stands at £226,000, marking an 8% annual increase. Recent figures from Nationwide also place Northern Ireland at the top of the UK regional growth rankings, underlining the relative strength of the local market.Looking ahead, the outlook remains mixed as economic uncertainty clouds the medium-term picture. The Office for Budget Responsibility has recently halved its UK growth forecast, and new tax policies introduced by the Labour government are increasing business costs from this month. In addition, rising global trade tensions may further impact economic confidence and market sentiment. However, on the positive side, the labour market remains resilient, with earnings continuing to outpace inflation. This, combined with expectations of further interest rate reductions, should help improve affordability and sustain activity in the months ahead.</blockquote>&nbsp;<blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the rental market:The rental market in Northern Ireland has continued its multi-year trend of demand significantly outpacing available supply. The average rent now stands at £960 per month, reflecting an 8.5% annual increase and a 1.9% rise over the last three months.This upward pressure on rents has been felt across all regions and property types, confirming that supply constraints are not isolated, but widespread throughout the market.There are tentative signs that demand may be easing, albeit from historically high levels. Improvements in the sales market, supported by better borrowing conditions, may be encouraging some renters to consider a move into homeownership, helping to slightly relieve pressure on the rental sector.Looking ahead, the outlook for the rental market suggests continued growth in rents, though likely at a more modest pace than recent years, as market conditions gradually begin to rebalance.</blockquote><hr>The areas of Northern Ireland with the most properties sale agree in Q1 2025 were:<ul><li>Botanic, Belfast: 182</li><li>Lurgan: 175</li><li>Titanic, Belfast: 175</li><li>Craigavon: 171</li><li>Castle, Belfast: 161</li><li>Newtownards: 152</li><li>Ormiston, Belfast: 151</li><li>Lisnasharragh, Belfast: 135</li><li>Bangor Central: 128</li><li>Ards Peninsula: 128</li></ul>

Introducing the Q1 2025 edition of our NI Housing Market Snapshot, where we examine the latest trends and developments in the NI housing market.

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Monthly Market Snapshot: April 2025
Published 13 May 2025

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