The newest figures from the Plumbing & Heating Service provider Index (PHMI) report present complete worth gross sales for January via specialist plumbing and heating retailers had been up +1.5% in 2024 in comparison with the identical month in 2023. Nevertheless, volumes decreased -3.7%. Costs elevated +5.4%. 

Plumbing & Heating retailers’ worth gross sales within the rolling 12-month interval from February 2023 to January 2024 had been +3.4% forward of the earlier 12-month interval. With two further buying and selling days this 12 months, like-for-like worth gross sales elevated +2.6%. This was largely pushed by value (+6.6%) as quantity gross sales had been down -3.0%. 

Mike Rigby, CEO of MRA Analysis, which produces the report stated: “There have been few causes for the Plumbing & Heating trade to be cheerful in 2023 however regardless of a fall in volumes and persevering with value rises in January, there’s rather more to be cheerful about. 

“The newest ONS figures present that on a sector stage, personal housing restore and upkeep improved +3.2% over the three-months to January, and within the month of January personal new housing volumes had been up +2.6%. Inflation is anticipated to return to extra regular ranges and rates of interest are forecast to fall. Home costs are beginning to rise once more as demand grows and there’s the prospect of higher occasions forward with an Autumn election. 

“GfK’s Shopper Confidence Index dropped two factors to -21 in February – however individuals’s view of their very own bettering monetary state of affairs over the approaching 12 months was unaffected – and February’s wobble comes after dramatic enhancements in shopper confidence within the earlier twelve months.” 

To obtain the newest report go to www.phmi.co.uk