PropertyPal Monthly Market Snapshot: May 2026
Key takeaways:
- House sales: 2,187
- Sales enquiries: -3.2%
- House prices: +3.8%
- Average house price: £242,977
- Average rent: £1,013
- Average listed time to reach sale agreed: 36 days
Conditions in Northern Ireland’s housing market remained resilient last month, according to PropertyPal’s latest monthly snapshot, but there are some signs of ongoing moderation in prices and activity.
Average prices are still rising – indeed at some of the strongest rates in the UK – according to the leading property portal. However, they are doing so at a more modest 3.8% per annum when compared to 8.6% this time last year.
Rents also continued to move upwards at a rate above inflation. But at 3.7%, this has moderated considerably from two years ago when annual growth in rents was over 10%.
Jordan Buchanan, Chief Executive Officer at PropertyPal, commented: “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.
“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. 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.”
