PropertyPal Northern Ireland Housing Market Update Q4 2025

Key takeaways for Q4 2025

• House sales: 5,512
• House prices: +6.4%
• Average house price: £235,035 (excludes new homes)
• Average listed time to reach sale agreed: 46 days
• Average rent: £995 (£1,001 for houses and £984 for apartments)

The average monthly rent on a house in Northern Ireland reached £1,000 for the first time in Q4 2025, according to PropertyPal’s latest quarterly report, published today.

Rental costs have continued to trend upward in recent years, with average rents increasing by 5.6% compared to Q4 2024. The average monthly rent for a house was £1,001 and the average monthly rent for an apartment was £984. This makes the average rent £995 overall.

In the sales market, activity remained steady in Q4 2025, with around 5,500 newly agreed sales and house prices increasing by 6.4% year-on-year, bringing the average house price to £235,035.

Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the Q4 2025 housing market:

“Northern Ireland’s housing market ended the year on a strong footing, with steady sales volumes and the fastest price growth across the UK. There were approximately 5,500 newly agreed sales recorded in the quarter, broadly in line with long-term averages, and house prices have grown by 6.4% year-on-year.

“Overall sentiment has improved following increased certainty from the Winter Budget and the Bank of England’s interest rate cut in December, which has already begun feeding through to more favourable mortgage conditions. Markets continue to price in further rate reductions over the coming year, which will further support affordability.

“Overall demand remains exceptionally strong, with estate agent enquiries from PropertyPal at multi-year highs. Indeed, Q4 saw the highest volume of buyer enquiries per listing for the respective quarter since peak activity levels of 2021.

“However, supply-side constraints remain a key challenge. While it’s encouraging that 2025 saw a 6% increase in resale listings, giving buyers more choice and contributing to overall market activity, new homes supply remains well below historic norms. This continues to be a critical policy concern and will constrain growth across 2026.

“Based on current indicators, we expect continued growth in both prices and sales volumes through the early months of 2026 and across the year more generally,” he continues.

Commenting on the rental market, he said:

“Rising rents have been a defining feature of the housing market in recent years, and Q4 was no exception. The average rent is now just under £1,000 per month, with annual growth of 5.6% compared to Q4 2024.

“While supply remained flat in the final quarter, the overall rental stock for 2025 increased by 11% year-on-year, a much-needed improvement given the pressures in the market. Looking ahead, 2026 will see a major boost to rental supply with the launch of Loftlines, the first large-scale build-to-rent scheme in Belfast that will deliver almost 800 new homes to the city of which over 600 will support the private rented sector.

“On the demand side, we’re seeing some signs of moderation in rent growth, but pressure to secure the property remains high. On average there were 52 enquiries per rental listing in Q4, up 13% on last year and nearly 60% above long-term norms.

“We expect rents to continue rising in 2026, likely in the 4% to 5% range, as structural supply imbalances continue to dominate market conditions,” he adds.