The latest figures from the Plumbing & Heating Merchant Index (PHMI) report show total value sales for October 2024 through specialist plumbing and heating merchants were up +5.2% compared to the same month a year before. Volumes increased by +9.3%, while prices dropped -3.7% year-on-year.
With one more trading day this year, like-for-like sales (taking trading day differences into account), were +0.7% higher than October 2023.
Month-on-month, October value sales jumped +16.9% compared to September. Volume sales climbed +13.9% and prices also edged up +2.6%. With two more trading days in October, like-for-like sales were +6.7 % higher.
Value sales in the three months August to October 2024 were +10.1% higher than the previous three-month period (May to July 2024). Volume sales were up +4.2%, and prices also increased +5.7%. With one more trading day in the most recent period, like-for-like value sales were +8.4% higher.
Mike Rigby, CEO of MRA Research, which produces the report, comments: “It’s been a bumper start to the heating season for Plumbing and Heating Merchants, with values and volumes up both year-on-year and month-on-month in October. A welcome upturn in fortunes after a subdued year, and there may be more good news in the pipeline.
“The Prime Minister’s recent ‘plan for change’ speech will also bolster sentiment in the construction industry, with the 1.5m homes milestone again reaffirmed. With a major ramp up of housebuilding, a possible uplift in RMI spending and the implementation of the Future Homes Standard, 2025 could be a year of challenges and opportunities for plumbing and heating merchants.”
To download the latest report, or learn more about becoming an Expert, speaking on behalf of your market, visit www.phmi.co.uk
