The average rental listing in Northern Ireland is edging closer to £1,000 per month, new analysis from PropertyPal suggests.
The latest quarterly report from the online listing site found the average residential property for rent in the north increased 1.7% in the second quarter of 2025 to £976 per month (p/m).
That was 7.3% higher than the second quarter (Q2 )of 2024.
The average rent in Belfast increased 1.4% last quarter to £1,143p/m (+7.6% year-on-year), while the average listing in Lisburn & Castlereagh shot up by another 1.7% to £994p/m
Rental prices in Ards & North Down increased by the same rate in Q2 2025 to £965p/m.
PropertyPal’s rental breakdown of the north’s 11 districts during the second quarter of 2025.
PropertyPal’s rental tracker showed prices rising in all 11 districts last quarter.
Prices west of the Bann remained the lowest at £707p/m in Fermanagh & Omagh and £739p/m in Mid Ulster.
But prices in Mid Ulster and Derry City & Strabane recorded the sharpest quarterly increase at 2.1%, with the latter now averaging £824p/m, which was 8.6% up over the year.
PropertyPal’s chief executive, Jordan Buchanan, said were some modest signs of improvement in the rental market in terms of supply, with levels up 16% year-on-year.
“While this is a positive step for the long-term sustainability of the sector, the market still remains imbalanced, with demand well above historic norms,” he said.
House prices in the north’s 11 districts in Q2 2025, as per PropertyPal’s analysis.
“On average, there are now 57 enquiries per advertised rental property, more than double the long-term average, though notably down from the peak of over 100 enquiries a couple of years ago.
“It currently takes around 37 days to find a tenant, slightly longer than this time last year.”
In the sales market, PropertyPal’s latest analysis showed 7,100 home sales between April and June 2025, 12% higher than Q2 2024.
Houses were also reaching ‘sale agreed’ status four days faster than 12 months earlier.
The price of the average home increased by 2% in the second quarter to £230,580, which was 8.9% up over the year.
Prices in Derry City & Strabane have soared by 14.5% over the year to £209,945, with Fermanagh & Omagh (£199,630) and Mid Ulster (195,908) the last remaining areas were the average home sold for less than £200,000.
According to PropertyPal, there are now four districts in the north where the average home costs more than a quarter of a million pounds: Ards & North Down (£283,292); Lisburn & Castlereagh (£271,337); Newry, Mourne & Down (£256,948); and Causeway Coast & Glens (£250,059).
PropertyPal recorded a 12% increase in search volumes up 12% year-on-year, with enquiries also rising.
“This sustained demand has contributed to continued growth in house prices, with the average home now valued at around £230,000, up 8.9% over the past 12 months,” said Mr Buchanan.
“Price growth in Northern Ireland is the highest across all UK regions, with recent Nationwide figures showing a similar trend, in contrast to the more modest 2.9% growth across the wider UK market.
PropertyPal’s figures showing the areas with the most active areas in the north’s housing market in the last quarter.
“While economic uncertainty and some softening in labour market conditions may temper momentum slightly, household finances remain in relatively good shape.
“The Financial Conduct Authority’s recent plans to ease lending restrictions, alongside the prospect of further interest rate cuts later this year, should support affordability and help maintain activity in the months ahead.”