The most recent figures from the Plumbing & Heating Service provider Index (PHMI) report present whole worth gross sales for February by means of specialist plumbing and heating retailers have been up +2.1% in 2024 in comparison with February 2023. Costs edged up +2.3% whereas quantity was flat (-0.2%).  

With one extra buying and selling day in 2024, like-for-like gross sales for February (which taking buying and selling day variations into consideration), have been -2.8% decrease than 2023. 

In comparison with January, February worth gross sales have been down -3.0%. In comparison with January, quantity was down -0.9%. Costs additionally decreased -2.1%. With one much less buying and selling day in February, like-for-like gross sales have been +1.6% increased.  

Mike Rigby, CEO of MRA Analysis, which produces the report mentioned: “The medium to long run prospects for brand spanking new construct housing might hardly be stronger with housing accepted by most political events as a precedence. The identical applies to upgrading the prevailing housing inventory so it’s extra vitality and water environment friendly. However addressing the capability constraints to sort out the backlog and begin assembly demand for each new housing and upgrading the housing inventory will take time.  

“Though the housing market is recovering and costs are beginning to rise once more, housebuilding is method under latest peaks, which is proscribing new plumbing and heating installations. The highest finish of the RMI market remains to be busy however the center to decrease sector of the market is ready on the financial system to revive.  

“Analysis by Confused.com helps the rising sentiment for residence repairs and enhancements, with a survey revealing {that a} third (32%) of UK owners are planning a renovation undertaking for 2024. Toilet remodels (33%) and kitchen upgrades (28%) prime the want lists.”