House Sales Up and Deals Closing Faster Across Northern Ireland

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House prices and property sales across Northern Ireland saw a significant boost in the second quarter of 2025, with homes selling faster and prices rising at the strongest rate in the United Kingdom. According to the latest market report from PropertyPal, more than 7,100 residential properties changed hands between April and June, a 12 per cent rise on the same period last year.

In addition to higher sales, properties were also snapped up more quickly. The average time to reach a sale agreement dropped to 38 days, down from 42 in the second quarter of 2024. This is well below the long-term average of 50 days, reflecting a market still defined by robust demand and strong buyer interest.

Price Growth

Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the latest figures, saying, “There were approximately 7,100 newly agreed sales between April and June, which is around 3 per cent above the long-run average. Properties are also selling more quickly, with the average time to secure a buyer now just 38 days, down from 42 this time last year, and well below the longer-term average of 50 days.”

Buchanan added that buyer activity on PropertyPal remained elevated, with online search volumes increasing by 12 per cent year-on-year. Enquiries per advertised property also grew by 3 per cent, suggesting buyers remain highly engaged despite wider economic pressures.

The average house price in Northern Ireland now stands at just over £230,000, marking an annual increase of 8.9 per cent. Buchanan noted, “Price growth in Northern Ireland is the highest across all UK regions, with recent Nationwide figures showing a similar trend, in contrast to the more modest 2.9 percent growth across the wider UK market.”

The council area of Derry City and Strabane recorded the highest price growth across the region, with average home values rising by 14.5 per cent over the past year.

On the rental side, tenants continue to face stiff competition. The average monthly rent has climbed to £976, a 7.3 per cent annual increase, with 57 enquiries on average per listed rental. “While this is a positive step for the long-term sustainability of the sector, the market still remains imbalanced, with demand well above historic norms,” Buchanan explained.

Despite a 16 per cent increase in rental supply compared to last year, demand continues to exceed what the market can deliver. Properties are now taking slightly longer to let, with the average time to find a tenant rising to 37 days.

Looking ahead, Buchanan believes the outlook remains generally positive. “While economic uncertainty and some softening in labour market conditions may temper momentum slightly, household finances remain in relatively good shape,” he said. “The Financial Conduct Authority’s recent plans to ease lending restrictions, alongside the prospect of further interest rate cuts later this year, should support affordability and help maintain activity in the months ahead.”

The highest number of agreed home sales in Q2 2025 was recorded in several key locations, including the Belfast wards of Botanic, Titanic, Ormiston, Lisnasharragh, and Castle, along with strong activity in Newtownards, Lurgan, Bangor Central, Craigavon, and Ballyclare.