House prices in Northern Ireland continued to grow at a steady pace in the first quarter of 2026, reflecting a stable and resilient housing market, according to the latest Northern Ireland Quarterly House Price Index Report (NIQHPIR).
The report, based on 4,894 property transactions completed between January and March 2026, shows the average property price increased to £224,607, marking a 1.2% rise over the quarter, and a 5.2% increase compared with the same period last year. The findings highlight ongoing demand from buyers, supported by relatively stable interest rates and inflation which continues to underpin consumer confidence.
Despite wider economic uncertainty, the market has remained active, with strong levels of enquiries, listings, and completed sales. Most properties continue to sell within lower to mid-range price bands, with over 80% of transactions below £300,000, underlining the continued importance of affordability in shaping the market.
The Northern Ireland Quarterly House Price Index continues to deliver in-depth insights into the housing market, thanks to research by Ulster University in partnership with the Northern Ireland Housing Executive and Progressive Building Society. This specific report analyses the performance of the Northern Ireland housing market during the first quarter of 2026 (January, February and March).
Property Type Performance
Analysis by property type indicated the terrace/townhouse sector recorded a price increase of 1.3% with an average price of £151,890. The semi-detached sector exhibited the strongest quarterly growth of 2.3% (Average £208,380), with the detached sector also exhibiting growth of 1.6% taking the average price to £334,337. The apartment sector experienced a marginal contraction over the quarter of 1.2%, suggesting some price softening in this segment.
At a regional level, the report highlights continued variation in house price performance across Local Government Districts, reflecting differences in supply, demand, and the types of properties being sold.
The strongest quarterly growth was recorded in Derry City & Strabane, where prices increased by 5.8%, followed by Causeway Coast & Glens (3.5%) and Ards & North Down (3.4%). More moderate increases were observed in areas such as Lisburn & Castlereagh (2.8%), Mid & East Antrim (2.9%), and Fermanagh & Omagh (2.4%). A small number of areas recorded modest declines over the quarter, including Newry, Mourne & Down (-2.3%) and Armagh City, Banbridge & Craigavon (-1.7%), reflecting localised market adjustments rather than any broader downturn.
The report also highlights how geopolitical pressures are raising inflation risks through higher energy and transport costs, potentially influencing Bank of England policy and tightening mortgage availability, which may slow housing transactions as affordability worsens. Higher oil prices are also pushing up construction costs, constraining new supply and reinforcing shortages, particularly in supply‑limited areas.
Despite these emerging challenges, the Northern Ireland housing market remains broadly stable due to resilient demand and limited stock, though global uncertainty suggests a more cautious outlook ahead.
Dr Michael McCord, reader in valuation, investment and finance at Ulster University, and lead researcher stated:
“The Northern Ireland housing market has entered 2026 on a firm footing, with the average price reaching £224,607, delivering annual growth of just over 5% on this time last year. This is a market characterised by price stability and continuity, where underlying demand remains strong but is being tempered by affordability constraints and economic headwinds. The underlying fundamentals, tight supply, stable interest rates, and consistent transaction activity, continue to support pricing, particularly across the various market segments. However, emerging global pressures, particularly rising energy costs and associated inflationary risks, are beginning to introduce a degree of caution into the market. While activity levels remain robust, these factors may begin to weigh on affordability, buyer sentiment and confidence and lending conditions in the months ahead.”
Ursula McAnulty, Head of Research at the Housing Executive, which commissions the analysis, said:
“In the first quarter of 2026 the Northern Ireland housing market continued to show the stability observed throughout 2025. Market evidence indicates that both listing volumes and bidding activity remained robust during the first quarter of the year. The average transaction price stood at £224,607, representing a 5.2% increase year-on-year and growth of 1.2% over the quarter. Towards the end of Q1, however, escalating conflict in the Middle East – while not yet reflected in pricing outcomes – began to weigh on market sentiment and consumer confidence. These broader geo-political tensions pose potential inflationary risks through higher transport and energy costs, with possible implications for future interest rate movements. The impact has already been felt within the mortgage market, as several major lenders have withdrawn certain mortgage products, which may contribute to a potential slowdown in transaction volumes”.
Michael Boyd, Chief Executive of Progressive Building Society, said:
“The Northern Ireland housing market has continued to perform steadily at the start of 2026, with modest price growth and sustained demand across most regions. While the underlying fundamentals remain strong, emerging cost pressures and global uncertainty may begin to influence market conditions over the coming months. However, the market remains resilient, supported by continued demand and constrained supply.”
Read the full report findings: Ulster University House Price Index Q1 2026