Homebuilder Cairn welcomes 'positive' trading environment with growing sales pipeline

Michael Stanley, Chief Executive Officer of Cairn Homes.

Irish developer Cairn Homes has welcomed a "very positive" trading environment, with 2025 so far seeing continued scaling in the homebuilder's operating platform and increased investment in the number of active sites across Ireland. 

Reiterating its guidance for this year, Cairn Homes said its closed and forward sales pipeline now stands at around 3,250 new homes with a net sales value of approximately €1.25bn. That is up from 2,953 closed and forward sales at the end of February, which totalled a net sales value of €989m.

"Ireland’s newly formed Government has been very clear in its ambition to almost double housing output," Cairn Homes said in a trading update on Thursday.

"Cairn’s established market-leading position will allow us to respond to this challenge."

The homebuilder said a focus on the first-time buyer market will result in increased WIP investment in the first half of this year and a higher proportion of its full-year revenue in the second half. 

"We are progressing a number of new forward sales and forward fund transactions with our State partners. "This demand across our multiple tenures will result in our closed and forward sales pipeline continuing to grow throughout the year."

Build cost inflation is currently running below Cairn's expected level of 2%, with the company saying that while it was mindful of the potential impact of changes in global trade policies, it is not witnessing any adverse effect on its business at present.

Cairn Homes is forecasting revenue growth in excess of 10% for 2025, with operating profit expected to be around €160m.

“We’ve experienced sustained, positive momentum since the start of the year, as evidenced by the growth in our order book to over 3,000 new homes," said Cairn Homes CEO, Michael Stanley. 

"This is our 10th year in business and my colleagues and I are genuinely proud that over 30,000 people now live in a Cairn built home

"As we embark on our second decade, our commitment to scale our delivery of high-quality, energy-efficient homes, in line with our core values, is stronger than ever."