Residential builder Glenveagh Properties has reported a surge in revenues for 2019 as its unit sales jumped by 207% to a total of 844.

In a trading update for the 12 months to the end of December, Glenveagh Properties said its revenues soared by 238% to €284m in the year from €84m in 2018.

The company said its average selling price of €332,000 reflected significant deliveries from its starter-home schemes and the sale of 90 units at Herbert Hill, Dundrum.

It said that a solid performance in the starter-home private market was complemented by institutional sales totalling 208 units at Taylor Hill in Balbriggan; Semple Woods in Donabate as well as Herbert Hill in Dundrum.

Glenveagh said it finished the year with 240 units signed or reserved for 2020, adding that was further evidence of the strong demand and maturing sales profile within the business.

The company's chief executive Stephen Garvey said the company's second full year of trading has seen another strong performance for the group both operationally and financially.

He said the company continues to meet its targets, delivering three times the number of unit completions from one year ago. 

"We have completed our net investment in land, grown our operations consistent with our business plan and remain focused on driving further return on capital improvements as the business continues to scale," Mr Garvey added.