Just three houses changed hands for at least £2 million in Northern Ireland last year.
Official market data compiled by Land & Property Services (LPS) and the north’s statistics body Nisra, show ten homes were sold last year for in excess of £1m.
It comes amid reports that UK Chancellor Rachel Reeves is considering a tax for the most expensive homes.
According to The Times, one proposal would remove the capital gains tax exemption on primary residences above £1.5m.
Homeowners selling a property above that valuation would be subject to a capital gains tax at 18% for basic-rate taxpayers and 24% for higher taxpayers.
But just three properties were actually sold above that threshold in the north last year, according to figures published as part of the latest Northern Ireland House Price Index.
They were located in Cultra and Killinchy in north Down, with the third sold in the Belmont area of Belfast.
According to PropertyPal, there are around three dozen homes currently on the market, or at the ‘sale agreed’ stage, listed above £1.5m in Northern Ireland.
One of those to recently reach ‘sale agreed’ is a five-bedroom house on Clanbrassil Road, Cultra, which had been listed for £3m.
Nine of the million pound plus homes bought in the north during 2024 were located in either Belfast or north Down, with the tenth located in Saintfield.
Average house price by district in the second quarter of 2025.
The latest data release for the housing market, revealed the average price of a home in the north stood at £185,108 in the second quarter (Q2) of 2025, an annual increase of 5.5%.
New build dwellings averaged at £243,127 in Q2 2025, a 0.8% increase over the quarter and 3.6% up over the year.
The price of existing properties averaged £179,485, up 5.8% year-on-year.
The average detached home sold for £288,651 in Q2, up 4.9% over the year, while semi-detached homes rose 5.8% in the past 12 months to £185,397.
Terrace homes were up 6% year-on-year to £132,370, just behind apartments, which averaged £138,319, an annual rise of 4.8%.
Despite prices being up over the year, house price inflation appeared to ease in five of the north’s 11 districts last quarter, with the average price falling in Newry, Mourne & Down (-1.3%); Causeway Coast & Glens (-1.1%); Lisburn & Castlereagh (0.6%); Antrim & Newtownabbey (-0.7%); and Mid & East Antrim (-0.6%) since the start of the year.
Mid Ulster (+4.7%) and Fermanagh & Omagh (+3.3%) registered the sharpest increase between the first and second quarters.
The strongest annual price growth was recorded in Mid Ulster (+8%), just ahead of Belfast (+8%) and Derry City & Strabane (+7.6%).
Mid & East Antrim remained the most affordable place to buy (£164,339), while Lisburn & Castlereagh was the most expensive (£219,097).
Meanwhile, worked started on more than 2,000 new homes in the north during Q2 2025.
It marked the busiest quarter for new home starts since early 2018.