A Steady Start to 2026 for Northern Ireland's Housing Market

The latest Northern Ireland Quarterly House Price Index has been published, and the picture it paints is a reassuring one. The market has opened 2026 on a firm footing, with steady demand, modest price growth, and a healthy level of activity across the region.

The average property price now sits at £224,607, up 1.2% over the quarter and 5.2% on this time last year. Nearly 4,900 transactions completed between January and March. For anyone thinking about buying, selling, or moving in the year ahead, that's a helpful baseline to start from.

What the numbers tell us

Dr Michael McCord at Ulster University, who leads the research, describes a market "characterised by price stability and continuity” - one where underlying demand remains strong, but where affordability and wider economic conditions are keeping growth measured rather than dramatic.

That's no bad thing. Over 80% of transactions in the quarter were below £300,000, which shows the market is still working for a wide range of buyers, not just at the top end. Semi-detached homes led quarterly growth at 2.3%, with detached properties up 1.6% - both segments where new-build plays a meaningful role.

Why steady is encouraging

Having built homes across Northern Ireland for more than three decades, we've seen enough cycles to know that stability is genuinely good news. Sharp price spikes might grab headlines, but they make life harder for everyone - particularly first-time buyers and those looking to move up the ladder.

A steady market is one you can plan around. Deposits hold their value. Lenders feel confident lending. Buyers feel confident committing. It's the kind of environment that lets people make long-term decisions about something as important as a home.

Supply and demand, side by side

Constrained supply is one of the key factors keeping the market resilient. When well-located, well-built homes come to market, they tend to move - and that's a pattern we continue to see across our own developments.

It's also a reminder of how much the fundamentals matter. Buyers in 2026 are looking beyond the price tag. Energy efficiency, running costs, location, layout, and the lifestyle a development offers all weigh into the decision. Getting those things right is more important than ever.

What to watch over the coming months

Progressive Building Society's chief executive Michael Boyd summed it up well: the fundamentals are strong, but emerging cost pressures and global uncertainty could start to influence market conditions over the coming months. Energy costs are one to keep an eye on, both for their direct impact on households and their wider effect on inflation and lending.

The underlying picture, though, remains a positive one. Northern Ireland's housing market has shown time and again that it's built on solid foundations - steady demand, careful supply, and a population that values quality homes in the places they want to live.

Looking ahead

At Hagan Homes, we've been part of that story for over thirty years, building exclusively across Northern Ireland. We know this market because it's the only one we've ever worked in.

If a new home is on the horizon for you in 2026, our team is here to help you think it through - whether you're just starting to look or ready to take the next step.