THE CEO OF Ireland’s largest private home developer today told investors that the average age of first-time buyers is now “unfortunately” 38 or 39 years of age. 

Michael Stanley, CEO of Cairn Homes, told shareholders that the age of first-time buyers for their homes has jumped by close to a decade in recent years. 

“We have to recognise that the average first-time buyers of a Cairn Home has grown from about 31 [or] 32 years of age up to 38 [or] 39 in the last number of years, so many people are older, unfortunately, buying their first home.”

The comments come on foot of the firm reporting a 12% increase in its operating profits in 2025, while its new housing output rose by 5.5%. 

The Banking and Payments Federation reported that the median age for first-time buyers was 35 in 2023, while the CSO said in 2023 that 39 was the median age of all homebuyers, not just those buying for the first time. 

Stanley also noted that many people are now buying apartments as their first homes.

Sinn Féin’s housing spokesperson Eoin Ó Broin said that the increasing age of first-time buyers is due to ‘government failures on housing’. 

“People not being able to buy a home until they are 39 means lives are being put on hold,” he told The Journal. 

“Things are only getting worse under this government,” he said. 

 Housing targets and results

Speaking this morning as Cairn announced its results for 2025, Michael Stanley said that an increase in the number of apartments being built is the only “credible” way for the government to achieve its housing targets, noting that “positive” government policy changes such as altering housing density rules have made apartment building more viable. 

Cairn Homes reported bumper profits and an increase in housing unit output in Ireland last year in its results. 

The firm builds between 5% and 10% of all new private residential homes in Ireland each year, so it contributes massively to private supply.

Cairn also has a significant landbank, which is key to its future supply projections, specifically in the Greater Dublin Area.

The company increased the number of new homes that it built from 2,241 in 2024 to 2,365 in 2025, an increase of 5.5%.

It increased its operating profits from €150m in 2024 to €168.6m last year. Cairn also paid increased dividends to shareholders in 2025.

It is forecasting that it will increase its output further over the next two years, by up to 35%.

Stanley told investors that the firm’s projections for 2026 are based on secured sites for up to 75% of the planned delivery, and up to 50% of the planned delivery for 2027.

He also noted that the current unstable geopolitical situation globally could result in significant supply chain disruption in the coming year.

Elsewhere, Stanley indicated that the government’s changes to apartment regulations – which allow new-build apartments to be smaller with less common spaces – was a positive step in terms of future apartment delivery.

Stanley said that housing policy and changes to density guidelines mean that Cairn is estimating that 75% of new dwellings added to the State’s ownership by 2030 will be apartments.

He noted that while the Irish government is playing “a larger role” in the housing market, it was responsible for “only 13.1% of all residential transactions in the five years to 2025, which includes both new and secondary homes”.

Stanley said that the State’s ownership stake in the Irish housing market is “considerably lower” than that of similarly-sized European countries including Denmark and the Netherlands. 

He said that this mostly impacts the availability of “affordable accommodation”, which he said needs to be boosted to support the country’s growing working population.

Stanley noted that 65% of all homes are still being delivered by the private market.

The firm’s 2025 report notes that it will deliver over 4,000 apartments in the “medium term” on active sites.

In today’s earnings call, Stanley noted that affordability remains a significant challenge for Cairn’s customers.

He added that the firm is continuing to “challenge” itself when it comes to managing cost inflation. 

For 2025 Cairn reported an average selling price of €392,000 for homes sold, which is up from €383,000 in 2024. He noted that this is in part due to a change in the types of homes being sold.