The latest Plumbing & Heating Merchant Index (PHMI) report, published in November, shows total value sales through specialist Plumbing & Heating merchants were +2.6% higher in Q3 2023 compared to the same period in 2022 driven by (+5.8%) higher prices. Volumes fell -3.0%. There was no difference in trading days.
Total value sales through specialist Plumbing & Heating merchants for October 2022 to September 2023 increased by +6.9% compared to the same 12-month period in the previous year, but volumes fell -1.2%. Prices increased +8.2%. There was no difference in trading days.
Mike Rigby, CEO of MRA Research, which produces the report commented: “House building has dropped to its lowest levels since Covid, and new home registrations in Q3 fell 53% year-on-year, according to the National House Building Council. While ONS data suggests private housing repair and maintenance picked up in September (+3.0%), it’s still down -0.3% quarter-on-quarter.”
