'This has been a very positive year for the business': Northern Ireland housebuilder grows turnover by over 23% to £17.4m as profits jump

A Ballyclare-based housebuilder has reported a strong year of growth, with turnover increasing to £17.4m for the period.

In its most recent financial results, Hagan Homes reported a 23.6% increase in turnover for the year ended June 30 2025, up to £17.4m from £14.1m the previous year.

The firm also revealed that pre-tax profit rose by 22.7% to £1.73m, while profit after tax climbed by 29.4% to £1.21m, highlighting continued demand for new homes across Northern Ireland despite ongoing economic pressures.

It also reported a 3.3% increase in net assets, which rose to £37.7m, as it continued to invest in land and development activity.

Hagan Homes said it had seen steady demand for high-quality housing, while navigating challenges including mortgage affordability and wider cost pressures.

The business has completed a number of developments across the region, including sites in Ballyclare, Comber, East Belfast, Coleraine, Greenisland, Castlecaufield, Dungannon and Ballymoney.

These include Springwater in Ballyclare, a £18m development delivering 77 homes, alongside established schemes such as Enler Village in Comber and One Three One in East Belfast.

In Lisburn, the company has been working on phases at Ballantine Garden Village, a £50m development on the Hillhall Road. The first phase, representing a £9m investment, will deliver 28 homes, with the wider scheme expected to be rolled out over six phases in the coming years.

Stock levels increased to £19.6m as work progressed across sites, reflecting continued investment in the pipeline, while cash reserves reduced as funds were reinvested into construction and future projects.

Hagan Homes has delivered more than 5,000 homes across Northern Ireland over the past 30 years and says it remains focused on building energy-efficient homes in locations where demand is strongest.

Jim Burke, managing director at Hagan Homes, said “This has been a very positive year for the business, with strong percentage growth across turnover and profits reflecting continued demand for new homes across Northern Ireland.

“We are continuing to invest in new developments, including major schemes like Ballantine Garden Village in Lisburn, while progressing sites across a number of key locations.

“While there are still challenges in the market, particularly around affordability, we remain confident in our ability to keep delivering high-quality homes for local buyers.”

The results come during a period of sustained investment and expansion for the company, which appointed Jim Burke as managing director during the same financial period.

Having joined Hagan Homes more than 35 years ago as its second employee, Burke now leads the company’s growth strategy, including a £20m investment in land acquisition and plans to deliver at least 160 new homes, as the business continues to scale its pipeline across Northern Ireland.