RICS Residential Market Survey NI – October 2025 

Surveyors in Northern Ireland reported that there was a fall in the volume of new houses coming to the market last month according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey amid a rise in demand from new buyers. 

Surveyors in NI report that new instructions to sell declined last month. A net balance of -6% of respondents reported that there was a decrease in supply, down from the 15% that was seen in the survey previous. 

But whilst there was limited supply, demand grew. A net balance of 45% of surveyors in NI report that new buyer enquiries rose through October, up from the 34% that was reported in the survey previous and the highest this balance has been in over a year.  

With this increase in demand and reduction in supply, it is unsurprising that upward pressure on prices continues. A net balance of 82% of NI respondents in the latest survey reported that house prices rose over the past three months. Looking ahead, a net balance of 69% of surveyors in NI expect that house prices will continue rising over the next three months. 

When it comes to sales, although demand and supply appeared imbalanced, sales volumes continued to be maintained. A net balance of 26% of NI surveyors reported that sales rose through the month of October. Over the next three months, surveyors do though expect sales growth to moderate. A net balance of 30% expect sales to increase between October and the end of the year, down from the 59% that was reported in the September survey.   

Samuel Dickey, RICS Northern Ireland Residential Property Spokesman, says: “The latest survey points to a softening in supply and increase in demand. So it is no surprise that surveyors expect prices to continue rising and for sales to continue to take place. There is of course some uncertainly at a macro level around the upcoming UK Budget as well as relating to the global economy, but such is the supply and demand dynamic in the local market that surveyors expect upward pressure on prices to continue in the short-term and indeed over the year ahead.” 

Commenting on the UK picture, RICS Head of Market Research & Analytics, Tarrant Parsons, said: “The housing market continued to show weakness in October, with activity levels drifting lower amid a lack of buyer confidence. Ongoing uncertainty surrounding potential measures in the upcoming Budget are thought to be compounding the cautious mood among both buyers and sellers, while above target inflation and rising unemployment are also a negative for the market.  

“The coming months will be crucial in assessing how the market responds to the Budget, which could prove a turning point in either direction. Greater clarity over housing taxation policy may help stabilise sentiment, but if the measures announced add further pressure to activity, they risk deepening the current slowdown.”