PropertyPal’s latest Q1 2026 Northern Ireland (NI) Housing Market Update found property market demand in NI was exceptionally strong in Q1 2026.
There were on average 38 sales enquiries per property, up 27% on the same period last year.
The average property price was £237,285, a 5% increase.
Around 5,900 properties reached sale agreement, with the average time to reach this point at 45 days, down from 47 days last year.
The research found average rent in Northern Ireland stood at £1,004 per month, with rental growth at 4.6%.
There were 56 rental enquiries per property, an increase of 14% on the year.
Supply in the resale market improved, with 22,500 residential listings for sale during 2025, up 6% on 2024.
Jordan Buchanan, CEO at PropertyPal, said: “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% year-on-year, among 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.”
Buchanan added: “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.”
He said: “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.”
He added: “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.”
He said: “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.”