Some solace ahead for Northern Ireland’s renters says PropertyPal report
The rate of renting a property in Northern Ireland could finally be starting to slow, an industry barometer suggests.Spiralling rents have been a defining feature of the local housing market for several years, and the average rent in the first quarter of 2026 hit £1,004 a month (broken down as £1,015 for houses and £986 for apartments), data from PropertyPal shows.But the analysis suggests that the annual growth of 4.6% “points to a continued moderation in rental inflation compared to recent years”. An overview of the property sales and rentals sector in Northern Ireland in the first quarter of this year, according to PropertyPal data (Gary) PropertyPal chief executive Jordan Buchanan says: “Supply constraints have been a persistent challenge in the rental sector, but there are signs this may have bottomed out. “Indeed, some 15,500 new rental properties were added to the market in 2025, an increase of 7% year-on-year, which was a much-needed improvement given the pressures in the sector.”He added: “We expect rents to continue rising through 2026, albeit at more moderate rates than recent years, likely in the 4% to 5% range, as structural supply imbalances continue to impact market conditions.”Jordan Buchanan, chief executive of PropertyPall Demand for renting remains elevated, however, and in the opening three months of this year, there were 56 enquiries per rental listing - up 14% on last year and well above long-term norms. Meanwhile the number of enquiries per property listed for sale increased by more than a quarter in the first three months of this year as underlying market demand remained exceptionally strong, the property website report says.There was on average 38 enquiries per property listed for sale on the PropertyPal portal in quarter one, an increase of 27% on the same period in 2025. Such strong demand meant properties sold more quickly, with the average time to reach sale agreed at 45 days (down from 47 days previously).Some 5,900 properties were agreed for sale in Northern Ireland the opening quarter of this year, and house prices grew by 5% year-on-year (the fastest growth in the UK) to an average of £237,285.The biggest quarterly growth was in the Causeway Coasts & Glens, and Antrim & Newtownabbey council areas, where prices each rose by 3.3% to an average of £266,764 and £213,996 respectively.Quarterly average prices actually dipped in three council areas, notably Ards & North Down (down 0.6% to an average £285,833).PropertyPal data shows where house prices have gone up - or down - over the last quarter and last year, broken down by council area (Gary) Mr Buchanan added: “Overall sentiment has remained broadly positive, but heightened economic volatility in March has shifted the outlook. “Rising inflation expectations have pushed up rate expectations, feeding through quickly to higher mortgage pricing and adding pressure to the market. “While short-term inflation looks likely, signs of a softening economy create a more nuanced and challenging backdrop for the Bank of England’s decision later this week. Holding interest rates at current levels appears the most likely outcome.”
