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. This report offers a thorough analysis of market performance, providing essential insights for buyers, sellers, and industry professionals.&nbsp;

Sales Enquiries

+ 6.2%

House Sales

+ 4%

Website Traffic

+ 5.7%

Key highlights from the report include:

*The figures above compare May 2025 with May 2024.

&nbsp;<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>

<hr>Thank you for reading! If you're interested in learning more about PropertyPal's market reports or need additional information on the Northern Ireland housing market, please reach out to us at insights@propertypal.com. A member of our team will be happy to assist you.For media enquiries, please contact us at press@propertypal.com.Stay informed with the latest market insights by visiting our blog regularly!

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

Water Funding Squeeze Hits NI Property Sector

Northern Ireland’s Water Funding Pressures and Their Implications for the Property Sector Northern Ireland is the only part of the UK where domestic water charges are not applied and this funding model is under significant pressure. According to the Northern Ireland Fiscal Council, this reliance on government subsidies to fund NI Water may be unsustainable. This has potential implications for property development, particularly given the growing demand for new housing and commercial projects.Funding Model and Infrastructure Needs Currently, NI Water is funded through public expenditure rather than direct billing from households. The Fiscal Council estimates that around £300 million per year is required from the Northern Ireland Executive to keep water services operational. This model has been labelled unsustainable, with a potential funding gap of approximately £1.5 billion by 2028.The lack of direct household billing means NI Water’s financial resources are limited, affecting its ability to invest in essential infrastructure, including sewerage systems required to support new housing and commercial developments.Impact on Property Development Recent reports indicate that wastewater treatment capacity is increasingly acting as a bottleneck for housing projects. Thousands of homes across various towns are currently affected by stalled sewerage connections. This has led to delays in both private and social housing developments.In some cases, these delays have caused developers to redirect planned investments away from Northern Ireland.&nbsp;Planning and Finance Considerations Limited sewage capacity means that planning approvals are often conditional on NI Water’s confirmation that the necessary infrastructure can be delivered. This affects both residential and commercial schemes, as well as the financing of these projects. Funders may now require proof of sewage capacity before agreeing to release funds.Key Considerations for the Property Sector<ul><li>Developers may face delays in planning and construction due to sewage capacity constraints.</li><li>Investment decisions may be affected by infrastructure limitations, leading to potential cost increases and longer project timelines.</li><li>Councils may increasingly attach conditions to planning approvals based on the availability of water and sewerage services.</li></ul> The funding and operational challenges facing NI Water are expected to continue to impact the property sector in Northern Ireland. Property professionals may need to consider these factors carefully in their planning, feasibility studies and stakeholder engagement to mitigate potential delays and additional costs.<hr>References This article draws on data and analysis from the Financial Times, the Northern Ireland Fiscal Council, and relevant planning documents. For further reading, see the Financial Times article: “Northern Ireland faces ‘inescapable’ prospect of charging households for water”.

Northern Ireland’s water funding model faces a crisis, impacting housing, planning and investment. What property professionals need to know.

NI Homes Under £200k: Top Picks!

Northern Ireland offers a fantastic range of homes under £200,000, with hundreds of properties currently listed on PropertyPal across the province&nbsp; . This guide explores three standout categories—modern, Victorian and beachfront—helping buyers discover affordable gems worth considering.<hr>48 Kansas Avenue, Belfast Listed By: Simon Brien (North Belfast) Price: Asking Price £199,950

<hr>32 Hillhead Road, Carrickfergus Listed By: Reeds Rains (Carrickfergus) Price: Offers Around £145,000

<hr>379 Belvedere Manor, Lurgan Listed By: Marc Fegan - Bespoke Estate Agent (Lurgan) Price: £169,950

<hr>1d Church Quarter, Rathlin Island, Ballycastle Listed By: Philip Tweedie &amp; Company (Coleraine) Price: Offers Around £175,000

<hr>12 Finvoy Street, Ballyhackamore Listed By: Templeton Robinson (Ballyhackamore) Price: Offers Over £175,000

<hr>59 Ballywoolen Road, Castlerock Listed By: Causeway Coast Sales &amp; Rentals Price: Price from £79,995

<hr>Church Mews, Cookstown Listed By: McAteer Solutions Ltd Price: Asking Price £189,950

<hr>Northern Ireland’s affordable housing market under £200k offers something for everyone. From turn-key modern apartments to atmospheric Victorian builds and scenic coastal finds. With over hundreds of listings, buyers have a wealth of options to explore.Ready to start your search? Check current listings for Northern Ireland homes under £200k on PropertyPal.

Discover Northern Ireland’s best modern, Victorian and beachfront homes under £200k on PropertyPal. Affordable gems for first-time buyers!

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