House prices in Newry, Mourne and Down rise by 8.1%

House prices in Newry, Mourne and Down grew by 8.1% in the year (vs Q3 2024), with the average house price reported as £257,494.

The Northern Ireland’s housing market remained robust through the third quarter of 2025, with growth in both prices and sales volumes compared to long-term trends, according to PropertyPal’s latest report.

Across Newry, Mourne and Down there were 435 agreed sales through the third quarter of the year.

Looking at the picture across Northern Ireland, there were 7,000 residential property sales between July and September, five percent higher than the corresponding quarter of 2024. Average house prices were seven percent higher in the same timeframe, increasing to £232,527.

Jordan Buchanan, Chief Executive Officer at PropertyPal, commented on the Q3 2025 housing market:

“Northern Ireland’s housing market remained robust throughout the third quarter, with growth in both prices and sales volumes compared to long-term trends. There were approximately 7,000 newly agreed sales over the quarter, up 5% on last year and 8% above the long-run average.

“Conditions remain supportive as we head into the final quarter of the year. The average time to find a buyer is 45 days, around two weeks faster than the long-term norm, and demand-side indicators remain strong. Over the past three months, search traffic on PropertyPal increased by 5%, while enquiries to estate agents rose by 16%.

This continued strength is placing upward pressure on prices. Average values are now up 7% year-on-year, and the latest figures from Nationwide confirm that Northern Ireland continues to lead all UK regions in annual price growth.

“Despite ongoing economic uncertainty and sustained pressure from higher interest rates, the local market has proven resilient. Unemployment remains low, household finances appear relatively healthy, and recent wage growth is helping to support affordability and activity.

“Looking ahead, the upcoming UK Budget introduces some uncertainty, particularly if new tax-raising measures are announced. However, financial markets expect a further Bank of England interest rate cut in the coming months, which would offer additional support to mortgage affordability and overall market conditions.”