Rise in rents across Newry Mourne and Down over past 12 months among highest in NI
Residential property rents in Newry Mourne and Down increased by 6.4% over the past year according to PropertyPal’s latest quarterly update, which was one of the highest rises seen across Northern Ireland.
In terms of house prices, the average house price in Newry, Mourne and Down now sits at £252,494. This is up significantly in recent years but eased by 1.7% over the last 12 months.
On the sales front, across the council area there were 410 reported sales through Q2,
which is lower when compared to the same period last year.
Looking at the picture across Northern Ireland, almost £9,000 has been added to the average NI house price during the last 12 months.
The average property price in Northern Ireland is now £239,234, the analysis from the leading property portal shows, up 3.8% compared to the same time last year.
In terms of demand, enquiries to estate agents per advertised property were up 7% on last year, and properties are typically being agreed within 36 days, around two weeks faster than the long-term norm.
However, supply pressures in the market remain acute. Around 6,500 new second-hand listings were added to the market in the quarter, fewer than the number of transactions agreed, meaning stock available to buyers has continued to tighten.
Jordan Buchanan, Chief Executive Officer at PropertyPal, commenting on the Q2 2026 housing market said:
“Northern Ireland’s housing market continued to perform robustly across the second quarter of the year.
“There were average prices now sitting at around £240,000, up 3.8% annually, having eased slightly from the exceptional 5.0% pace recorded in Q1.
“In practical terms, that annual growth has added almost £9,000 to the value of the average local home over the past 12 months.
“There were approximately 6,700 transactions agreed in the quarter, broadly in line with long-term averages.
“Enquiries to estate agents per advertised property were up 7% on last year, pointing to a healthy pipeline heading into the summer months, while properties are typically being agreed within 36 days, around two weeks faster than the long-term norm.
“Supply pressures remain a defining feature of the market. Around 6,500 new second-hand listings were added to the market in the quarter, fewer than the number of transactions agreed, meaning stock available to buyers has continued to tighten.
“Alongside the well-documented challenges facing new-build supply, this remains a core constraint on activity, set against a strong demand backdrop.
“Recent improvements in macroeconomic conditions point towards a gradual easing in mortgage rates, while the local economy remains a bright spot, with steady growth, a strong labour market and real wage growth supporting affordability.
“Together, this should improve household confidence and support market conditions through the remainder of the year.”
Jordan Buchanan added: “Rents have added almost £40 a month to the average Northern Ireland tenancy over the past year with the typical rental property now costing £1,013 per month, up 3.8% annually.
“Demand remains considerably stronger than long-term norms, with an average of 63 enquiries to estate agents per advertised rental property, up 11% on last year.
“New rental supply started the year encouragingly but has since slowed, with total available inventory now down 5% on last year.
“Against this backdrop, we expect rental growth to continue at a moderate pace through the remainder of 2026, as structural supply constraints continue to persist.”
(Courtesy of PropertyPal).
