Northern Ireland house prices have risen nearly twice as fast as those in the UK since the Covid pandemic, a new study shows.
Smart Mortgage Insurance analysed the UK house price index and Department of Finance data, comparing the first quarter of 2020 with the 2025 fourth quarter averages.
The report shows that average residential prices across the north climbed from £133,173 in Q1 2020 to £193,247 by the end of 2025, representing a 45% increase over the five years and adding £60,000 to the value of the typical home.
By contrast, UK average house prices rose just 27% over the same period
Both Ards & North Down and Derry City & Strabane recorded the highest growth at 51% while Belfast recorded the lowest growth rate at 40%.
All 11 council areas in the north recorded double digit price growth, the report says.
Graph shows Northern Ireland council areas ranked by growth since pre-Covid (Gary)
Mike Curran, housing market analyst at Smart Mortgage Insurance, said: “What stands out is not just the growth itself, but how Northern Ireland has outperformed the wider UK market.
“While UK house prices rose by 27% over the same period, Northern Ireland saw a 45% increase — highlighting strong regional demand and structural shifts since 2020.”
And he added: “But NI Water’s recent recommendation to refuse plans for 15,000 homes over wastewater capacity is a serious red flag, because if development slows as a result, reduced supply will only add further upward pressure to house prices across Northern Ireland.”