Northern Ireland continues to grapple with housing supply shortages, with the latest RICS residential market survey revealing a fifth consecutive month of contraction in new listings. A net balance of -34% of respondents reported fewer instructions to sell in June, a slight improvement from -51% in May, but still indicative of a constrained market.
Buyer demand also eased, with a net balance of -12% reporting a decline in new enquiries—less severe than the -30% seen previously. Unsurprisingly, this has impacted sales activity, with -12% of surveyors noting a fall in transactions through May.
Despite these headwinds, house prices remain resilient. A net balance of 88% of respondents reported price increases in Q2 2025, and 64% expect further rises in Q3, driven by limited supply and sustained demand. Sales expectations remain positive at 15%, though this is the lowest level since August 2023.
Samuel Dickey, RICS Northern Ireland Residential Property Spokesman, noted: “The first half of 2025 has been relatively steady for NI’s residential property market as house prices continue to edge upwards. It is though no surprise that surveyors continue to report a fall in new properties coming to the market given the challenges the new build market is facing with a lack of wastewater infrastructure, planning delays and the increased cost of raw materials to name a few issues.”
On the broader UK outlook, Tarrant Parsons, RICS Head of Market Research & Analysis, added: “The UK residential market appears to be entering a more settled phase, with demand showing signs of stabilising following a period of volatility… Encouragingly, near-term sales expectations have begun to edge higher, pointing to a modest shift in sentiment.”
