PropertyPal Reveals Latest Housing Trends in Northern Ireland.

PropertyPal, the leading property portal in Northern Ireland, has published its comprehensive market snapshot for April 2024. This report provides key insights into the landscape of Northern Ireland’s housing market.

Access the full snapshot here

Key Findings for April 2024 Include:

  • House prices have increased 2.9% vs. April 2023
  • Rental prices have increased 10.2% vs. April 2023
  • There were 1,853 house sales, a 3% decrease vs. April 2023
  • The average price of a new build is £239,000
  • The listed time to reach sale agreed averaged at 50 days
  • The listed time to reach let agreed averaged at 33 days
  • PropertyPal website users increased 14% vs. April 2023

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

Housing market conditions have shown a stable performance over recent months with steady sales volumes similar to 2023 levels and headline prices cooling to 2.9% over the last year, modestly below prevailing inflation of 3.2%.

Stubborn interest rates have seen overall mortgage rates edge upwards in recent months adding to affordability pressures and subduing overall demand. However, rate cuts look increasingly likely over the summer months which should begin to reflect in lenders pricing soon, adding to the attractiveness of those looking to make their move. PropertyPal website visitors have increased by 14% over the last year, suggesting a healthy pipeline of prospective buyers/renters moving into the summer months.”