Housing

Cairn chief says cost of building a home has increased by €160k since 2016

Housebuilder calls on government to ramp up financial support for buyers amid still-rising construction inflation

Michael Stanley: ‘When I look at the cost of construction in Parkside in 2016 and I compare it today, the pure cost of construction in that period of six or seven years has increased by €160,000.’ Picture: Fergal Phillips

The construction cost of building a new home has increased by €160,000 since 2016 for Cairn Homes, according to the chief executive of the country’s biggest housebuilder.

Michael Stanley said today that the cost of building houses and apartments for Cairn was rising to a “startling” extent – a trend he said was causing significant challenges for the affordability of buying a house for purchasers.

“If I was to give you one kind of startling ...