Despite a slight dip in revenue and unit sales compared to last year, Cairn Homes has reported a strong performance for the first half of 2025, driven by robust demand from first-time buyers and the launch of multiple new residential projects.
In its trading update for HY1 2025, the Irish housebuilder and developer reported it had generated revenue of around £241.2 million from 700 units, compared to £315.4 million from 894 units in H1 2024.
The results were “in line” with Cairn’s expectations, with the second half of the year historically providing a stronger performance.
Cairn Homes accelerated its construction efforts in HY1 2025, launching eight new residential schemes across Dublin, Kildare, Meath, Cork, and Galway.
The Dublin-headquartered company also made significant investments in land acquisition, which will deliver an additional 2,000 homes in the coming years, with a focus on first-time buyers.
It reported a significant rise in its closed and forward order book, which now totals approximately 3,700 new homes valued at £1.2 billion, up from 3,250 homes and £1 billion in May 2025.
In addition, Cairn acquired land for 2,000 FTB homes and increased its debt facilities by £34.4 million, with access to a total of £438.8 million, to support ongoing construction and continued growth.
Looking ahead, the company is optimistic about meeting its full-year targets, projecting revenue growth above 10 per cent and operating profit of around £137.8 million.
Michael Stanley, chief executive officer, encouraged by the strong demand for affordable housing, welcomed the Irish Government’s recent amendments, such as relaxing space and layout requirements, to apartment design guidelines.
“We welcome this initiative, which will reduce build costs,” he said.
“We plan to submit revised designs and prioritise projects for our Affordable Housing Body (AHB) customers.
“When amendments are approved by planning authorities, we will pass on the significant cost savings to our AHB customers, which should in turn reduce affordable rents for new Cost Rental apartments.”
Its interim results will be announced in September.
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