House prices in Northern Ireland continued to rise in the third quarter of 2026, with the average transaction price reaching £233,022, Apartments recorded the strongest annual growth across all property types, with prices increasing by 7.6% over the year.
The latest findings suggest that Northern Ireland's housing market remains resilient, supported by steady buyer demand and a limited supply of available homes, which is supporting prices. This contrasts with parts of the wider UK market, where demand is weakening and more sellers are reducing their asking prices to attract buyers.
The latest Northern Ireland Quarterly House Price Index, produced by Ulster University in partnership with the Northern Ireland Housing Executive and Progressive Building Society, analysed 5,634 property transactions between July, August and September 2026.
The report’s weighted house price index recorded a 1% increase compared with the previous quarter and annual growth of 5.4%.
Price growth recorded across all four property types
The findings point to continued price growth across the main property types, although the pace of growth varied across Northern Ireland.
Apartments recorded the strongest performance, with average prices increasing by 7.6% over the year to £176,651 and 3.6% over the quarter.
Detached homes remained the most expensive property type, with an average sale price of £346,177. Semi-detached homes averaged £214,141, and terrace or townhouse properties averaged £157,913.
Average sale price by property type
Property type | Q2 2026 | Q3 2026 | Quarterly | Annual |
Terrace/townhouse | 157,455 | 157,913 | +0.3% | +5.9% |
Semi-detached | 210,080 | 214,141 | +1.9% | +4.9% |
Detached | 341,166 | 346,177 | +1.5% | +5.9% |
Apartment | 170,459 | 176,651 | +3.6% | +7.6% |
All properties | 229,462 | 233,022 | +1.6% | +5.9% |
Northern Ireland housing market remains resilient amid wider UK uncertainty
While the wider UK is experiencing signs of weaker buyer demand and increased pressure on sellers to reduce their asking prices, Northern Ireland's housing market has continued to record steady price growth, supported by ongoing buyer interest and relatively stable levels of property sales.
Estate agents continue to report “business as usual”, with buyer enquiries, listings and completed sales broadly consistent with earlier quarters in the year.
However, buyer behaviour remains mixed, with some keen to secure mortgage terms ahead of any potential change in rates, while others were delaying decisions amid concerns about inflation, energy costs and the future direction of borrowing costs.
The Bank of England’s decision to hold Bank Rate at 3.75% in September provided some certainty for purchasers, although uncertainty about the future direction of interest rates remains a consideration for first-time buyers or those remortgaging.
Affordability pressures remain a key consideration
Despite continued house price growth, affordability remains a challenge, particularly for first-time buyers who face higher deposits and greater borrowing commitments. While buyers have adjusted to the current mortgage rates of around 4.5%–5%, uncertainty over inflation and future interest rates could add pressure on household budgets and monthly repayments.
If inflation remains high, the Bank of England may need to keep interest rates at elevated levels for longer or increase them further, potentially pushing mortgage costs up.
Despite these challenges, estate agents anticipate a broadly stable market as it enters a traditionally quieter final quarter of the year, with realistically priced and well-presented properties expected to continue attracting purchaser interest.
Dr Michael McCord, Reader in Valuation, Investment and Finance, and lead researcher, said:
“The latest Q3 2026 findings highlight the continued stability and resilience of Northern Ireland’s housing market, particularly when compared with other parts of the UK which are experiencing downward pressure on house prices, increasing asking-price reductions and greater market uncertainty.
"The average house price now stands at £233,022, representing a 1% increase over the quarter, and 5.4% annual growth compared to this time last year. Importantly, this performance reflects a market characterised by consistent buyer demand, relatively stable mortgage conditions, and ongoing constraints in housing supply.
"Although affordability pressures and uncertainty surrounding inflation and interest rates remain important considerations, there is little evidence of any significant weakening in the overall Northern Ireland market. Looking ahead, we anticipate continued stability, with prices remaining positive throughout the remainder of 2026.”
Ursula McAnulty, Head of Research at the Housing Executive, which commissions the research, said :
“The Q3 2026 analysis shows that house prices continued to rise across all property types, underlining the resilience and sustained stability of the Northern Ireland housing market. Looking ahead, the expectation is for continued – albeit modest – price growth, provided wider macroeconomic and mortgage lending conditions do not deteriorate significantly. There is, however, growing recognition that buyers are becoming increasingly conscious of affordability, with realistic asking prices and property quality continuing to play a key role in bringing sales to completions.”
Michael Boyd, Chief Executive, Progressive Building Society, said:
“Another confident performance by the Northern Ireland housing market in the third quarter reflects the stable interest rate environment throughout that period and a continued tight supply picture. However, growing inflationary pressures since then have prompted concerns that near-term interest rate rises could be on the horizon, dampening sentiment in the market. All eyes will be on the Bank of England for future direction but, for now, the tight supply and demand sector will continue to provide support.”
Read the full report: Ulster University House Price Index Q3 2026
