The newest Plumbing & Heating Service provider Index (PHMI) report, printed in June, exhibits Q1 2024 complete worth gross sales by means of specialist Plumbing & Heating retailers had been down -3.6% in comparison with the identical quarter in 2023. Volumes gross sales fell -6.4% and costs crept up +3.0%.  

With one much less buying and selling day this yr, like-for-like gross sales had been -2.1% decrease. 

Whole worth gross sales by means of specialist Plumbing & Heating retailers for the 12-month interval April 2023 to March 2024 had been +0.8% forward of the identical interval a yr earlier than (April 2022 to March 2023). Nonetheless, quantity gross sales had been down -4.2% and costs elevated +5.3%. There was no distinction in buying and selling days.  

Mike Rigby, CEO of MRA Analysis, which produces the report commented: “It’s been a disappointing begin to the yr with volumes persevering with to say no, as financial headwinds subdue shopper demand for brand new construct housing and hard-hit householders postpone restore, upkeep, and enchancment initiatives. The newest figures from Nationwide Home Constructing Council (NHBC) present that new house registrations in Q1 had been down 20% on final yr, a pointy drop in numbers which might be keenly felt by trades and retailers alike.  

“Whereas the business struggles to deal with the continued downturn, there are different points on the horizon for retailers. In April, Scotland launched the New Construct Warmth Normal which can outlaw direct emission heating methods – resembling oil and gasoline boilers – in new houses and buildings and a few conversions. All eyes might be on how our business in Scotland adjusts to the brand new rules forward of the roll out of the Future Houses Normal in England and Wales in 2025.”