RICS Residential Market Survey NI – September 2025
House prices in Northern Ireland continued to rise through the third quarter of 2025, but at a slower pace than seen previously according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey.
A net balance of 68% of NI respondents reported that house prices rose over the past three months, which, whilst strong, is the lowest this balance has been in nearly a year. Looking towards the final quarter of the year, a net balance of 59% of surveyors in NI expect that house prices will continue rising.
Whilst house price growth is slower, there are more potential buyers evident. A net balance of 33% of surveyors in NI report that new buyer enquiries rose through September, up from the 21% that was reported in the survey previous.
Looking at supply, surveyors in NI report that new instructions to sell rose last month, but at a slower rate than seen in August. A net balance of 18% of surveyors reported that there was an increase in supply, down from the 25% that was seen in the survey previous.
On the sales front, a net balance of 21% of NI surveyors reported that sales rose through the month of September, which given that both demand and supply rose, is perhaps unsurprising. Over the next quarter surveyors appear to be optimistic on the sales outlook too as a net balance of 59% of respondents expect sales to rise over the next three months, up from the 41% reported in the August survey.
Samuel Dickey, RICS Northern Ireland Residential Property Spokesman, says: “Northern Ireland’s housing market remained buoyant throughout the third quarter of 2025. We’re still seeing house prices rising and there is clearly continued strong interest from prospective buyers. But with an increased number of properties also coming to the market, it is perhaps unsurprising that price growth is less intense than it was. It is also encouraging to see that surveyors expect an increase in sales through the last quarter of the year as appropriately priced properties continue to sell quickly.”
Commenting on the UK picture, RICS Head of Market Research & Analytics, Tarrant Parsons, said: “The housing market continues to struggle for momentum, with seemingly no clear catalyst on the horizon to spark a turnaround over the near-term. Buyer demand remains subdued, while agreed sales are still on a downward trend, reflecting a broader hesitancy in the market. Ongoing uncertainty around potential measures in the upcoming Budget is also likely adding to the prevailing cautious sentiment. “
