Hagan Homes, one of Northern Ireland’s largest homebuilders, has announced that their annual home completions for the 2015/16 financial year were up by 65% on the previous year. This was the company’s second biggest year in terms of completions since it was established in 1988.
Jamesy Hagan, Managing Director, Hagan Homes discusses:
"Hagan Homes recorded a turnover of over £20 million in 2015/16 and celebrated our second biggest year of home completions in the company’s 28 year history. We completed 191 homes across 10 sites in Northern Ireland, an increase of 65% on the previous year’s 115. This figure exceeded all our expectations as our initial target for 2015/16 was 160 homes.”
Hagan Homes’ most successful year to date was 2006, just before the property crash.
Mr Hagan adds: "We are absolutely delighted with the results and believe it is a clear indication that what we are offering, in terms of specification of build, is exactly what our customers want.
"We aim to build affordable, quality, stylish homes and achieve this by appointing award-winning architects, interior designers and craftspeople. Our homes are built to be lived in, so the usability of homes has been a primary consideration in the design and build. Hagan Homes reflect the needs of the modern day family and are designed to cater for changing needs as families grow.”
Mr Hagan discusses the company’s plans for the future:
"Despite the current uncertainty surrounding Brexit, we are seeing a gradual improvement in the local housing market following a deep recession. Quality, location and affordability remain the key selling points. Our target for home completions for the year 2016/17 is 180 and we have already started work on two new sites in Antrim and Upper Newtownards, Belfast. Further sites in Carrickfergus, Dunmurry and Ballyclare are scheduled to begin in the coming months.
"However, there are a number of challenges to the local home building sector. These revolve around the delay caused by the planning system in Northern Ireland which to date has not been improved by the transfer of powers to the local councils. There is also an issue around finance with banks still reluctant to lend for property regardless of whether or not you have a history of success in the industry. Land availability is also a major concern.”
The ten sites that Hagan Homes had completions on in the last financial year were Fort Hall, Old Dundonald Road, Belfast; Kinross Avenue, Kings Road, Belfast; Hollybrook Hill, Hightown Road, Glengormely; Ilford Park, Crossnacreevy; Linen Lane, Bangor, Thaxton Village, Lisburn; Gortin Meadows, Newbuildings; The Printers House, Main Street, Strabane; West Circular Close, West Circular Road, Belfast; and Woodland Grove, Ballymena.