Market Update April 2025

Jordan Buchanan, Chief Executive Officer at PropertyPal commented on the housing market:

April saw continued momentum in the Northern Ireland housing market, with activity levels expected to remain strong into the summer. Leading indicators such as website traffic and estate agent enquiries have both grown over the past year, helping drive a 5% increase in sales volumes compared to April 2024. The time taken to find a buyer continues to trend below the long-term average, highlighting the strength of underlying demand.

This robust performance has contributed to a further acceleration in price growth, with the average property now valued at around £233,000, up 8.9% year-on-year and among the highest rates of growth across any UK region.

The recent decision by the Bank of England to cut interest rates is expected to pass through in the form of slightly lower mortgage rates in the coming months, which should add further support to the market. That said, the medium-term outlook remains more uncertain. The UK & N.Ireland is expected to see weaker economic growth resulting from global trade tensions and domestic fiscal pressures.