Planning to get on the property ladder in 2026? Here’s what to consider before taking your first step.
Whether you’re hoping to buy your first home this year or helping a child or grandchild onto the property ladder, buying a home is a major milestone, so it’s important to get your finances in order and plan ahead.
House Prices
House prices in Northern Ireland rose by 9.2% between Q2 2025 and Q2 2026. Despite this increase, Northern Ireland remains one of the most affordable regions in the UK to buy a home, with an average house price of £202,487.
As of July 2026, the average UK property was valued at £273,000, marking a 1.4% annual increase.
Experts predict UK house price growth of around 0–2% in 2026, although forecasts vary across the property industry.
Mortgage Rates
The mortgage deal you choose can make thousands of pounds worth of difference to your long-term costs.
As of September 2026, average UK two-year fixed mortgage rates stood at around 5.56%, while five-year fixed rates averaged 5.53%.
Mortgage rates are influenced by factors including inflation, interest rate expectations and global economic uncertainty.
How much deposit do you need?
A deposit is one of the biggest upfront costs when buying a home. Most mortgages require a deposit of around 5–20% of the property price. For example, based on Northern Ireland’s average house price of £202,487, a 10% deposit would be approximately £20,249.
Use MoneySuperMarket’s mortgage deposit guide to learn more about how much you may need to save.
Other Buying Costs
Buying a home involves more than just your monthly mortgage payments. Remember to budget for additional costs such as stamp duty, legal fees, property surveys, and removals.
First-time buyers in Northern Ireland pay no Stamp Duty on properties up to £300,000. Properties priced between £300,001 and £500,000 are subject to 5% on the portion above £300,000. Use the MoneySavingExpert Stamp Duty Calculator to estimate your costs.
Start saving for your first home now!
Planning ahead can help you work towards your deposit and other costs. Start building your savings with your Harp and Crown Credit Union account.
We also offer a range of loan options to suit different needs. *Ts/Cs apply.
Not a member yet? Join ONLINE today!
Questions? Get in touch today.
Email creditunion@harpandcrown.co.uk or phone 028 9068 5198.
The Harp and Crown Credit Union has been providing safe, ethical and flexible finances for the Police and wider Police family in Northern Ireland since 1998.
