This report provides an overview of recent developments in the Northern Ireland residential property market.
Northern Ireland’s property market experienced a strong resurgence in 2024, with significant increases in transactions, price inflation, and development activity compared to the previous year. This upward momentum carried through into the opening months of 2025. In the first quarter of 2025, house prices in Northern Ireland rose by 9.5% year-on-year to an average of £185,037 - the fastest annual growth rate since late 2022. Looking ahead, reduced borrowing costs are expected to support demand. However, supply is likely to remain below market needs in the near term, maintaining upward pressure on prices.
