A study has revealed the UK nation which has seen the highest capital appreciation in recent years.

Smart Mortgage Insurance analysed the UK House Price Index and Northern Ireland (NI) Department of Finance data, comparing Q1 2020 with Q4 2025 averages.

Northern Ireland average house prices are up 45% since pre-Covid assessments in Q1 2020.

This contrasts with the UK average house prices up 27% for the same period.

The typical home in NI now worth £60,000 more than before the pandemic.

And all 11 NI council areas saw double-digit increases –
the strongest recorded a 51% increase in house prices.

Perhaps surprisingly, Belfast has seen the lowest increase in NI.

A spokesperson says: “What stands out is not just the growth itself, but how Northern Ireland has outperformed the wider UK market.

“While UK house prices rose by 27% over the same period, Northern Ireland saw a 45% increase — highlighting strong regional demand and structural shifts since 2020.”