Housing market overview: Q1 2026
Sales Rentals
£237,285
*Excludes New Homes
Prices by houses and apartments
£244,452
£168,822
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 5.0% 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.
House prices by number of bedrooms
Apartments Houses
£350,000
£300,000
£250,000
£200,000
£200,000
£150,000
£100,000
£50,000
House prices across Northern Ireland
Derry
& Strabane
& Glens
N.Ireland prices: Q1 2026
New Homes
£271,552
£271,056
Apartments
£273,407
No. of ‘sale agreed’ properties by quarter, N.Ireland, 2016-2026
Q1 2026
5,900 Q1 2025
6,191 No. of agreed sales
6,180 Q1 Avg (2016-2019)
Top selling areas across Northern Ireland
Average days on market to reach sale agreed, N. Ireland, 2016-2026
Average days on market for houses to reach ‘sale agreed’ Average days on market for apartments to reach ‘sale agreed’
New listings on PropertyPal
Location of advertised sales properties
newly listed properties available to purchase in Q1 2026 5,747
Total inventory % change vs Q1 2025 -10%
Proportion of listings with asking price reductions during quarter, N.Ireland, 2017-2026
N.Ireland rents: Q1 2026
Rents by houses and apartments
Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the rental market:
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.
Rents by number of bedrooms
Houses
Apartments
Rents across Northern Ireland
Derry City & Strabane
& Glens
Average days on market to reach let agreed, N. Ireland, 2016-2026
Apartments
New listings on PropertyPal
Location of advertised rental properties
3,764
newly listed properties available to rent in Q1 2026
Total inventory % change vs Q1 2025 -1%
