Cairn Homes Reports Strong 2025 Results, Plans Output Increase

Dublin-listed home builder Cairn Homes announced double-digit increases in profit and revenue for 2025, alongside plans to ramp up housing output by 35% over the next two years. The company’s performance reflects strong demand, particularly from first-time buyers, and effective cost management strategies.

Financial Highlights for 2025

Cairn Homes reported revenues of €944.6 million for 2025, a 10% increase from €859.9 million in 2024. Operating profit rose by 12% to €168.6 million, up from €150 million the previous year. Profit after tax increased to €132.7 million, compared to €114.6 million in 2024, despite rising finance costs which increased to €16.7 million from €15.1 million.

The company sold 2,365 homes in 2025, 124 more than in 2024, with the average selling price increasing by 2.3% to €392,000 from €383,000 [RTÉ].

Focus on Affordability and Cost Control

Cairn Homes CEO Michael Stanley highlighted the affordability of new homes as the most significant challenge in the Irish market. The company is focused on managing its cost base to maintain competitive pricing, especially for first-time buyers and social/affordable housing projects [RTÉ].

Over the past five years, the average selling price of a Cairn home has increased by only 5%, significantly lower than the broader market’s 29% inflation for new homes in the same period [RTÉ]. This is attributed to the company’s innovation, new building methods, and economies of scale.

Future Growth and Pipeline

Cairn Homes is “firmly positioned” to deliver approximately 6,000 new homes between 2026 and 2027, including around 3,200 homes in 2027 [Irish Times]. This represents a 35% increase in output over the two-year period.

The company’s closed and forward order book currently stands at 3,452 new homes with a net sales value exceeding €1.32 billion, providing strong visibility into its future pipeline [RTÉ].

Cairn is actively developing sites that will deliver over 4,000 apartments in the medium term, with the launch of its third Croí Cónaithe approved apartment scheme scheduled for the first half of 2026, delivering over 330 apartments for private buyers [RTÉ]. The company is also involved in six forward fund projects, set to deliver around 2,000 new apartments to the Land Development Agency (LDA) and its Approved Housing Body (AHB) partners.

First-Time Buyers and PRS Investment

Approximately 50% of Cairn Homes’ customers are first-time buyers, benefiting from Government grants [Irish Times]. The company is also seeing a resurgence in interest from private rented sector (PRS) investors, driven by rent controls and changes in design standards.

Dividend Announcement

The Cairn Homes Board has recommended a final dividend of 5.9 cent per ordinary share, bringing the total dividend for the year to 10 cent per ordinary share [RTÉ].

Cairn Homes is located at 45 Mespil Road, Dublin 4 [Property.ie].