NI Property Update: January’s "Early Bird" Market and a Major U-Turn for Local Communities

As we reach the final days of January 2026, the Northern Ireland property market is proving its reputation for resilience. From a surprise announcement by the Finance Minister today to a significant rebound in buyer demand, there is plenty for homeowners, buyers, and landlords to digest.

At SMART Residential, we believe an informed client is a successful one. Here is a breakdown of the headlines shaping our local market today, January 29, 2026.

1. The "Reval 2026" U-Turn: A Win for Our High Streets

In a major breaking story today, Finance Minister John O’Dowd has officially halted the Reval 2026 process (Source: Department of Finance, Jan 29, 2026).

The revaluation of non-domestic properties (like our local pubs, shops, and cafes) had sparked "furious reaction" from the hospitality sector, with many businesses facing "doubled or trebled" rates bills (Source: Business Eye / Impartial Reporter, Jan 29, 2026).

Why this matters for your home: While this is a commercial update, it is great news for residential property values. A thriving local high street—filled with independent coffee shops and family-run pubs—is what makes neighborhoods like East Belfast and the Ormeau Road so desirable. By pausing these hikes, the Executive is providing a "lifeline" to the businesses that make our communities great places to live.

2. The January Rebound: Buyers are Back

According to the latest Zoopla House Price Index released today, buyer demand has seen a significant seasonal spike since the turn of the year (Source: Zoopla, Jan 29, 2026).

Confidence is returning as mortgage pricing edges down. The average five-year fixed rate (75% LTV) has hit 4%, its lowest level since 2022 (Source: Mortgage Finance Gazette, Jan 29, 2026).

The SMART Insight: While demand is up, so is choice. The number of homes for sale is 6% higher than this time last year. For sellers, this means that "accurate pricing and presentation" are now more critical than ever to stand out in a competitive market (Source: MPA Mag, Jan 29, 2026).