Northern Ireland house prices and rents grow but activity moderates in May – PropertyPal
There were 2,187 house sales completed and the average house price stood at £242,977.
Housing market conditions in Northern Ireland stayed resilient in May, with some signs of moderation, according to PropertyPal’s latest monthly snapshot.
There were 2,187 house sales completed and the average house price stood at £242,977.
Prices continued to rise, up 3.8% over the year, but this was slower than the 8.6% recorded a year ago.
The average rent reached £1,013, with annual growth at 3.7%.
Properties took an average of 36 days to reach sale agreed, slightly quicker than last year.
Sales enquiries fell by 3.2%, and while enquiry levels stayed close to last year, newly agreed sales were down 8% compared to May 2025.
Rents still grew faster than inflation, but the pace has eased since the double-digit rises seen two years ago.
Jordan Buchanan (pictured), CEO at PropertyPal, said: “Local market conditions remain resilient, albeit with some signs of moderation.
“Both house prices and rents continue to grow faster than inflation, with the latest data showing annual growth of 3.8% and 3.7% respectively.
“Northern Ireland continues to experience some of the strongest house price growth across all UK regions.”
Buchanan added: “Overall enquiry levels remain broadly in line with last year, although transaction activity has softened, with newly agreed sales down 8% compared to the same period in 2025.
“However, for those properties that did secure a buyer, the average time to sale agreed was just 36 days, slightly quicker than last year and indicative of continued underlying demand.
“Some loss of momentum was expected given the heightened economic and geopolitical uncertainty earlier this year and the knock-on impact this had on energy prices, inflation expectations, and ultimately both interest and mortgage rates.”
He said: “All things considered, the market appears stable, with most key indicators tracking close to long-term norms.
“The biggest constraint on activity remains housing supply.
“While there have been modest improvements in resale stock levels, new home development remains well below historic levels and continues to be a significant challenge to the long-term sustainability of the market.”
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