The number of new properties coming onto NI’s housing market fell flat in August according to the latest Royal Institution of Chartered Surveyors (RICS) residential market survey. And with demand from new buyers rising at the same time, this is expected to put upward pressure on prices in the months ahead.
A net balance of 2% of NI respondents reported a rise in new instructions to sell through August, which is the lowest this balance has been in 2026.
On the demand side, a net balance of 38% of NI respondents noted a rise in new buyer enquiries which is up from the net balance of 17% seen in the July report.
And looking ahead, NI surveyors expect prices to continue to rise, with a net balance of 80% of respondents anticipating that prices will increase over the next three months.
This follows a relatively strong performance over the past three months. A net balance of 35% of surveyors in NI reported a rise in newly agreed sales between June and August, which is the highest this balance has been since November 2024. And a net balance of 82% of NI respondents report that prices continued to increase over the past three months, which remains the highest balance seen across all UK regions.
Samuel Dickey, RICS NI Residential Spokesperson, said: “NI’s housing market has remained resilient throughout this year and August was no different. We saw steady levels of new buyer activity over the summer months, but there are not enough homes to meet demand, which in turn is keeping upward pressure on prices. Northern Ireland has been facing challenges with housing supply for quite some time due to factors such as the wastewater infrastructure deficit, planning delays and rising costs of raw materials. It’s hoped that the momentum from new buyers will continue over the coming months. But any solutions to the housing supply issues in the short term are hard to see.”