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House prices in the Newry, Mourne and Down council area were 7.1% higher in Q4 2025 than they were in the same quarter the year before, with the average price now £258,212, according to PropertyPal's latest quarterly report published today.
Average rents in Newry, Mourne and Down were also up 7.2% in the same timeframe to £868 per month, as the average monthly rent on a house in Northern Ireland reached £1,000 for the first time. There were 349 agreed sales recorded in the district through Q4.
The figures show rental costs have continued to trend upward in recent years across Northern Ireland, with average rents increasing by 5.6% compared to Q4 2024. The average monthly rent for a house was £1,001 and the average monthly rent for an apartment was £984, making the average rent £995 overall.
In the sales market, activity remained steady in Q4 2025, with around 5,500 newly agreed sales and house prices increasing by 6.4% year-on-year, bringing the average house price to £235,035 across Northern Ireland.
Jordan Buchanan, Chief Executive Officer at PropertyPal, said Northern Ireland's housing market ended the year on a strong footing, with steady sales volumes and the fastest price growth across the UK. There were approximately 5,500 newly agreed sales recorded in the quarter, broadly in line with long-term averages, and house prices have grown by 6.4% year-on-year.
"Overall sentiment has improved following increased certainty from the Winter Budget and the Bank of England's interest rate cut in December, which has already begun feeding through to more favourable mortgage conditions. Markets continue to price in further rate reductions over the coming year, which will further support affordability," he said.
Overall demand remains exceptionally strong, with estate agent enquiries from PropertyPal at multi-year highs. Q4 saw the highest volume of buyer enquiries per listing for the respective quarter since peak activity levels of 2021.
However, supply-side constraints remain a key challenge. While it's encouraging that 2025 saw a 6% increase in resale listings, giving buyers more choice and contributing to overall market activity, new homes supply remains well below historic norms. "This continues to be a critical policy concern and will constrain growth across 2026," Buchanan said.
