RICS Residential Market Survey NI – November 2025

Homebuyer demand in Northern Ireland rose through November but the volume of properties coming to the market remains subdued according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey.

A net balance of 26% of NI respondents report that new buyer enquiries rose last month; but whilst this figure indicates a rise in demand, it is at a slower rate than seen the month previous (a net balance of 43%).

Surveyors in NI also report that new instructions to sell rose through November, however this was at a very modest rate. A net balance of 4% of respondents reported that there was rise in supply, up from the -7% that was seen in the survey previous.

With limited supply, it is perhaps unsurprising that sales activity was flat in November. A net balance of 1% of NI surveyors noted a rise in sales indicating that the volume was broadly the same as in October. But surveyors are more optimistic on the sales outlook, with a net balance of 34% expecting a rise in sales over the next three months, and sales are expected to higher in a year’s time too.

When it comes to pricing, again with demand outstripping supply, it is unsurprising that surveyors in NI report that house prices continued to rise. A net balance of 99% of NI respondents in the latest survey reported that house prices rose over the past three months. Looking ahead, a net balance of 73% of surveyors in NI expect that house prices will continue rising over the next three months. Prices are also expected to be higher in a year’s time.

RICS NI Residential Spokesperson, Samuel Dickey, said that whilst demand is robust, buyers are increasingly price sensitive: “2025 has been another quite robust year for the Northern Ireland housing market, with the RICS survey showing ongoing price growth and good demand through the year and into the final quarter. The latest survey for November is little different in this respect with key indicators including prices and buyer demand continuing to point to growth. And my own experience is that buyer interest on the ground remains steady. However, it is clear that the market is price-sensitive, with buyers increasingly conscientious in their bidding. Well-presented homes in established areas continue to attract strong competition.”

Commenting on the UK picture, Simon Rubinsohn, RICS chief economist said: “The housing market has been struggling for momentum for several months, and the recent Budget announcements are unlikely to materially shift that picture. The ending of Budget related uncertainty is welcome, but the fundamental challenges of affordability and elevated borrowing costs will in all probability keep activity subdued in the near term. That said, the twelve-month outlook has brightened somewhat, likely reflecting a growing sense that the Bank of England may have a little more scope to reduce interest rates than seemed plausible only a short while ago.

“Meanwhile in the lettings market, although tenant demand does appear to be softening the lack of stock is keeping rental expectations elevated and the additional tax levied on landlords in the Budget will likely exacerbate this trend.”