Posted on 08 July 2026
Strong Demand Supports Northern Ireland Housing Market Growth
Read the full report HERE
Northern Ireland’s housing market has continued to demonstrate resilience in the opening months of 2026, with strong demand and constrained supply supporting further price growth across both the existing homes and new build sectors. According to the latest Northern Ireland Residential Market Review, existing home prices increased by 7.9% year-on-year, while new home values reached a record high average price of £249,899.
Transaction activity remained robust throughout 2025, with 24,492 residential sales recorded - the strongest annual performance in three years. While preliminary figures indicate a slower pace of activity in Q1 2026 compared with the unusually strong opening quarter of 2025, underlying market demand remains healthy.
Supply continues to be one of the defining challenges across the market. Existing housing stock remains exceptionally limited, with only 0.6% of private housing stock advertised for sale in February 2026. This shortage of available homes is continuing to place upward pressure on prices in many areas.
There were, however, encouraging signs from the new homes sector. A total of 1,471 new homes were completed during the first quarter of 2026, representing the strongest first quarter for completions in four years. Apartment delivery was a key contributor to this growth, although commencements remain below the levels required to significantly improve long-term housing supply.
The wider economy also remains relatively resilient. Northern Ireland recorded annual economic growth of 1.6% in Q4 2025, while maintaining the lowest unemployment rate of any UK region at 2.1%.
Looking ahead, the outlook for the residential market remains broadly positive. Strong buyer demand, limited housing supply and stable interest rates continue to support values, although increasing the delivery of new homes will be critical to maintaining affordability and meeting future housing needs across Northern Ireland.