Northern Ireland housing: Portstewart locals ‘being priced out’

Jordan Buchanan, chief executive at PropertyPal, said average rents in Causeway Coast and Glens have risen by 34% since 2020.

He said average rent in the council area has “risen to £725 per month” which is “£50 more than last year”.

Mr Buchanan said it aligns closely with the Northern Ireland average increase of 36% but far outpaces overall inflation.

He said it highlights “the growing unaffordability of renting”.

Mr Buchanan said rents in Portrush, Dunluce and Portstewart have surged since 2020 due to more people wanting non-traditional rentals like short term and holiday lets.

“The increasing cost of renting is likely to limit further sharp rent rises, particularly as inflation stabilises and mortgage rates improve.

“Strong labour market conditions, wage growth, limited private sector investment, and a severe shortage of new private housing continue to drive rental prices upward.”

Mr Buchanan said in order to tackle the problem “it is vital policymakers focus on increasing the supply of social, affordable, and private housing”.