Northern Ireland Housing Market Update: Q1 2023 (Source Property Pal)

Within the Northern Ireland rental market there is a steadily growing disparity between supply and demand, with supply going down and demand rising.  This explains why the average time for a property on the market to reach let agreed has dropped.  For further clarity on this please see the last two images below.

The average property price is £197,800 and the average rental property is £773 per month (Q1 2023).

The average property price in Northern Ireland is now £197,800 – an 8.1% annual increase and 1.6% increase over the last quarter.

The average new-build property in Northern Ireland is now £235,000, a 10.8% annual increase and -0.5% decrease from last quarter.