Cairn Homes plc today issues a Trading Update for the six months ended 30 June 2022 in advance of interim results to be announced on 8 September 2022.

Commenting on the H1 2022 trading update, Michael Stanley, Chief Executive Officer, said:  “Continued reinvestment in increased new homes output remains our core strategy. Our current performance and profitability in a challenging environment has allowed us to commence a significant number of new developments. Today, we are building in 20 separate locations nationally with 1,750 closed and forward sold new homes across these developments.

The standard and quality of new homes being built in Ireland today is appropriately high. However, rising material costs have further stretched the affordability gap for the current generation of homebuyers. In the present environment, new homes output would materially reduce without the sensible Government interventions for first time buyers, including the First Homes initiative and Croí Cónaithe.”