Average rents for residential properties in Derry City and Strabane district reached £821 by the end of 2025, up from £610 in the first quarter of 2020. The rise totals £211, or 35 percent, over five years.

Median full-time annual wages in the district grew by 30 percent in the same period.

Northern Ireland saw average rents increase by 51 percent since early 2020.

Rental growth rates slowed recently. Northern Ireland rents now rise at five percent per year, down from over 10 percent in mid-2024.

Jordan Buchanan, CEO of PropertyPal, stated that high demand and limited supply drove the increases over the past five years. He noted rental growth exceeded wage growth and strained household budgets.

Buchanan added that rents now grow at a sustainable five percent annually. He attributed this to better mortgage affordability shifting households toward buying.