Monthly Market Snapshot: August 2025

Published 18 Sep 2025

Introducing the August edition of our Monthly Market Snapshot, where we examine the latest trends and developments in the Northern Ireland housing market. 

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

NI housing market remains stable but conditions in rental market soften

Activity in Northern Ireland’s housing market remained resilient during the summer, and the rest of the year is expected to see stable conditions, according to PropertyPal’s latest monthly market snapshot.

Sales enquiries in August were 22% higher than in the same month of 2024, with sales volumes broadly at the same level as last year. Average prices reached £235,862 in the month.

In the rental market, whilst headline rents continued to increase, the rate of growth has been moderating, and now sits at 6.4% on a year-on-year basis. Rental enquiries were lower than in August 2024 (-12.5%) representing a slowdown from extremely high levels.

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

“Summer activity remained resilient, with around 2,200 newly agreed sales during August, in line with expectations and long-term trends. Both house prices and headline rents have increased by 6–7% over the past year, although the pace of growth continues to moderate.

“Looking ahead, we expect the second half of 2025 to deliver broadly stable market conditions, underpinned by strong demand. Search activity and enquiries to estate agents remain at multi-year highs, signaling continued buyer interest. Rental demand also remains exceptionally high by historic standards, though there is growing evidence that conditions are beginning to soften.

“However, the economic backdrop remains uncertain. Inflation remains high and continues to concern policymakers, while overall growth remains subdued. Further interest rate cuts are far from guaranteed, meaning mortgage affordability is unlikely to materially improve in the coming months.” 
 

August 2025 Key Takeaways:

• Sales enquiries: +22.1%
• PropertyPal website traffic: +16%
• Average house price: £235,862
• Average listed time to reach sale agreed: 45 days
• Rental enquiries: -12.5%
• Average rent: £988