House prices in Newry Mourne and Down rise in the first quarter (Q1) in 2026
There were 317 property sales agreed in the first quarter in Newry Mourne and Down, which was lower than the same quarter of last year.
However, overall in Northern Ireland, the number of enquiries per property listed for sale on PropertyPal increased by more than a quarter in the first three months of this year as underlying market demand remained exceptionally strong.
There was on average 38 enquiries per property listed for sale on PropertyPal in Q1 2026, an increase of 27% on the same period last year. This strong demand meant that properties sold more quickly, with the average time to reach sale agreed at 45 days, down from an average of 47 days in the same period last year.
Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the Q1 2026 NI housing market said: “Northern Ireland’s housing market started 2026 on stable footing, with approximately 5,900 properties agreed for sale in the opening quarter and house prices growing by 5% year-on-year, amongst the fastest growth across the UK.
“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.
“Despite these macro-economic headwinds, underlying housing demand remains exceptionally strong, with estate agent enquiries on PropertyPal well above long-term norms. Indeed, Q1 saw a 27% increase in enquiries per listing, pointing to continued strength in market appetite.
“Supply-side constraints remain the key factor limiting activity. Encouragingly, resale supply has improved, with approximately 22,500 residential listings for sale in 2025, up 6% on 2024, giving buyers more choice and supporting confidence.
“By contrast, new homes supply remains well below historic levels, reflecting a range of structural constraints, and this will continue to weigh on overall market activity through 2026 and beyond.”
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About Jordan Buchanan, Chief Executive at PropertyPal
Jordan Buchanan is the Chief Executive and Chief Economist at PropertyPal, acting as the spokesperson for the company and a trusted subject matter expert on all UK and Northern Ireland economic and housing matters. He currently sits on the Board of Co-Ownership, Northern Ireland’s shared ownership provider. Jordan lectured in Economics at the Ulster Business School and is a regular commentator across a range of media outlets.
About PropertyPal
PropertyPal is the leading local property portal, listing homes from property professionals across Northern Ireland and Ireland. PropertyPal has the largest audience of home movers and home seekers in Northern Ireland, with over 130,000 visitors to their website every day.
