The number of homes coming to NI’s housing market fell flat in December according to the latest Royal Institution of Chartered Surveyors (RICS) but surveyors are optimistic that both sales and prices will rise through the first quarter of the year.
Surveyors in NI report that new instructions to sell fell flat through December, this is down from the net balance from 4% that was seen in the November survey.
But whilst supply levels are subdued, demand is on the rise. A net balance of 34% of NI respondents report that new buyer enquiries rose in December, up from the 26% that was reported in the survey previous.
Looking at sales activity through December, a net balance of 8% of NI surveyors noted a rise in sales, which was broadly the same as the balance noted in November. And surveyors are more optimistic on the sales outlook. A net balance of 46% of NI respondents are expecting a rise in sales through the first quarter of the year, up from the 34% that was seen in November.
Regarding pricing, a net balance of 97% of NI respondents in the latest survey reported that house prices rose through the last quarter of the year, which is perhaps unsurprising given the imbalance between demand and supply. Looking ahead, a net balance of 64% of surveyors in NI expect that house prices will continue rising through Q1 2026.
Samuel Dickey, RICS NI Residential Spokesperson, said: “Overall 2025 was a positive year for NI’s housing market, and the year rounded off with optimism heading into the new year with surveyors expecting sales to continue rising. Demand from new homebuyers looks to be robust across the market, but the ongoing supply constraints will continue into 2026, which is putting upward pressure on pricing. As we saw through 2025, we expect that this new year appropriately priced housing will sell quickly.”
Commenting on the UK picture, RICS Head of Market Research & Analysis, Tarrant Parsons, said: “The UK residential market remains in a prolonged soft patch, with December’s survey recording a sixth consecutive month of negative momentum in buyer enquiries. That said, there are tentative signs of a shift in sentiment beneath the surface.
“Near-term sales expectations have strengthened, and the twelve-month outlook has edged into more positive territory. The key test for 2026 will be whether borrowing costs ease on a sustained basis. If so, this could provide the catalyst needed to drive a recovery in buyer demand.”