Monthly Market Snapshot:

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>

Sales Enquiries

+ 6.2%

House Sales

+ 4%

Website Traffic

+ 5.7%

Key highlights from the report include:

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.

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Monthly Market Snapshot: May 2025

NI Housing Market Update:

Introducing the Q2 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_Q2_2025_Final_8863de6f18/Housing_Market_Trends_Q2_2025_Final_8863de6f18.pdf">Download PDF</a>

The Northern Ireland housing market continued on a strong footing through the second quarter of the year, with over 7,100 home sales between April and June. This is up 12% compared with the same period in 2024.As well as more sales, residential properties also reached ‘sale agreed’ four days faster than in the April to June period last year.Price growth also strengthened, with the average house price in Northern Ireland increasing by 8.9% on an annual basis to just over £230,000. Breaking the figures down by council area, Derry City &amp; Strabane experienced the highest average price rise at 14.5% over the year.In the rental market, the average rent reached £976 per month in the quarter, an increase of 7.3% on last year, and interest remained strong, with an average of 57 enquiries for each advertised rental property.<blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the housing market:Northern Ireland’s housing market continued to perform strongly through the second quarter of the year, with activity levels and price growth both ahead of long-term trends. There were approximately 7,100 newly agreed sales between April and June, which is around 3% above the long-run average. Properties are also selling more quickly, with the average time to secure a buyer now just 38 days, down from 42 this time last year, and well below the longer-term average of 50 days.This strength is reflected in buyer activity across PropertyPal too, with search volumes up 12% year-on-year and enquiries per advertised property increasing by 3%. This sustained demand has contributed to continued growth in house prices, with the average home now valued at around £230,000, up 8.9% over the past 12 months.Price growth in Northern Ireland is the highest across all UK regions, with recent Nationwide figures showing a similar trend, in contrast to the more modest 2.9% growth across the wider UK market.While economic uncertainty and some softening in labour market conditions may temper momentum slightly, household finances remain in relatively good shape. The Financial Conduct Authority’s recent plans to ease lending restrictions, alongside the prospect of further interest rate cuts later this year, should support affordability and help maintain activity in the months ahead.</blockquote>&nbsp;<blockquote>Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the rental market:The rental market has seen some encouraging shifts in recent months, with supply levels up 16% year-on-year and key demand-side indicators showing signs of softening. While this is a positive step for the long-term sustainability of the sector, the market still remains imbalanced, with demand well above historic norms.On average, there are now 57 enquiries per advertised rental property, more than double the long-term average, though notably down from the peak of over 100 enquiries a couple of years ago. It currently takes around 37 days to find a tenant, slightly longer than this time last year. The average rent now stands at £976 per month, a 7.3% annual increase and a 1.7% rise in the last quarter.Looking ahead, continued growth in the sales market, supported by more favourable borrowing conditions, is expected to provide more options for prospective buyers, which in turn should help to ease pressure on the rental sector. While headline rents are likely to continue rising, we expect the pace of growth to moderate over the remainder of the year.</blockquote><hr>The areas of Northern Ireland with the most properties sale agreed in Q2 2025 were:<ul><li>Botanic, Belfast: 223</li><li>Titanic, Belfast: 206&nbsp;</li><li>Ormiston, Belfast: 195&nbsp;</li><li>Lisnasharragh, Belfast: 173&nbsp;</li><li>Newtownards: 172&nbsp;</li><li>Lurgan: 169&nbsp;</li><li>Bangor Central: 169&nbsp;</li><li>Craigavon: 160&nbsp;</li><li>Ballyclare: 153&nbsp;</li><li>Castle, Belfast: 151&nbsp;</li></ul>

Introducing the Q2 2025 edition of our NI Housing Market Snapshot, where we examine the latest trends and developments in the NI housing market.

NI Housing Market Update: Q2 2025

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>

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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