Northern Ireland’s Residential Market Maintains Steady Momentum

Northern Ireland’s Residential Market Maintains Steady Momentum

Statement by Simon Brien, Managing Director

Please find a link to the full report HERE

Simon Brien, a leading estate agency in Northern Ireland and part of the Sherry FitzGerald Group, has today released its latest report on the Northern Ireland residential property market. The October 2025 update highlights continued resilience and growth across key market indicators, with strong economic performance underpinning increased housing activity and price growth.

Commenting on the findings, Simon Brien, Managing Director of Simon Brien, said:
“Residential property transactions have continued to build on the momentum seen in 2024, supported by Northern Ireland’s robust economic performance. We’ve seen a healthy rise in both sales volumes and prices, although supply constraints remain a challenge for buyers.”

According to the Northern Ireland Statistics and Research Agency (NISRA), the region’s economy expanded by 2% in Q2 2025, significantly outpacing the UK’s GDP growth of just 0.3%. This economic strength has translated into a buoyant housing market, with 10,938 residential transactions recorded in the first half of 2025 up 6% compared to the same period in 2024. The majority of these were house sales, which rose by 6%, while apartment sales increased by 2%.
Price growth remains steady. The average standardised house price reached £185,108 in Q2 2025, marking a 5.5% increase year-on-year. Existing dwellings saw the strongest growth, with prices rising by 5.8% to £179,485. New homes also performed well, reaching a record high of £243,127 an increase of 3.6% for the quarter.

Further commenting, Simon Brien noted:
“Development activity has shown encouraging signs, with new home completions and starts both increasing in the first half of 2025. However, the imbalance between supply and demand continues to drive price growth and highlights the need for sustained investment in housing delivery.”

Northern Ireland was the only UK region to record increased residential completions in 2024, and this trend has continued into 2025. A total of 2,834 new dwellings were completed in H1 2025, up 2% from the same period in 2024. Starts surged by 18%, driven by a 40% increase in housing commencements. Armagh City, Banbridge, and Craigavon led the way, accounting for 15% of completions and 21% of starts.

The report concludes that while Northern Ireland’s housing market continues to show strength, addressing supply shortages will be critical to maintaining affordability and meeting future demand.