Housing Market Trends: Q3 2021
Housing market overview: Q3 2021
Sales Rentals
prices: Q3 2021
Prices by houses and apartments
“Sales volumes continue to operate at higher levels with transactions up 8% compared to the same quarter in 2019. However, activity has cooled in recent months with sales activity down 25% compared to peak levels in late 2020. Price growth has also moderated over the last few months but still remains high, particularly for larger properties and across high demand areas in N.Ireland. The mortgage market is improving each month with greater availability of deals at lower rates of interest. Heightened concerns of rising inflation may lead to interest rate rises sooner than markets expect, which in turn will suppress demand across the housing market.
new properties available to purchase in Q3 2021
Location of advertised sales properties
6,714 -8% -44%
New inventory % change vs. Q3 2019*
Total inventory % change vs. Q3 2019*
6,001 houses
713 apartments
House prices by number of bedrooms
Houses
Apartments
House prices across Northern Ireland
& Strabane Causeway Coast & Glens
No. of ‘sale agreed’ properties by quarter, N.Ireland, 2015-2021
Top selling areas across Northern Ireland
Average days on market to reach ‘sale agreed’, N. Ireland, 2019-2021 Note: Based on listed property
Average days on market for houses to reach ‘sale agreed’
Average days on market for apartments to reach ‘sale agreed’
N.Ireland rents: Q3 2021
Rents by houses and apartments
Q12020Q42019Q32019Q22019Q12019Q42018Q32018Q22018Q12018Q42017Q32017Q22017Q12017Q42016Q32016Q22016Q12016
The rental market is experiencing an increasingly challenging period from a tenant’s perspective with many unable to secure suitable properties. There are fewer than half of rental properties available compared to 2019 and each property is achieving an average of 71 enquiries sent via PropertyPal- almost 4x the three-year average. The market imbalance, coupled alongside the ending of economic support measures suggests a difficult period ahead for the sector. Whilst tentative, early signs indicate activity may be moderating as the rate of rental growth fell marginally over the last quarter.
New listings on PropertyPal
Location of advertised rental properties
3,141
new properties available to rent in Q3 2021
Total inventory % change vs. Q3 2019* -30% -51%
New inventory % change vs. Q3 2019*
1,870 houses
1,271 apartments
Rents by number of bedrooms
Apartments Houses
Rents across Northern Ireland
Derry
& Strabane Causeway Coast & Glens
Average days on market to reach ‘let agreed’, N. Ireland,
Apartments Houses
Average days on market for houses to reach ‘let agreed’ Average days on market for apartments to reach ‘let agreed’
