P&H Merchants’ April value sales up +0.7% year-on-year but volumes down -3.8%

The latest figures from the Plumbing & Heating Merchant Index (PHMI) report show total value sales for April 2025 through specialist plumbing and heating merchants were up +0.7% compared to April 2024. However, this was lifted by +4.6% rising prices as volumes sales decreased -3.8% year-on-year. With one less trading day this year, like-for-like value sales (which take trading day differences into account) were +5.7% higher.

Month-on-month, April value sales were -12.4% behind March. Both volume sales (-5.3%) and prices (-7.5%) fell. With one less trading day in April, like-for-like value sales were down -8.0%.

Total value sales in the three months from February to April 2025 were +3.8% higher than the same period a year ago. Volume sales increased +2.0% and prices rose +1.8%. With one less trading day in the most recent period, like-for-like value sales were up +5.5%.

Value sales in the three months from February to April 2025 were up +2.5% compared to the previous three months, November 2024 to January 2025. Volume sales rose +3.7% while prices eased -1.2%. With an additional trading day in the most recent period, like-for-like value sales were up +0.8%.

Plumbing & Heating merchants’ value sales in the 12-month period from May 2024 to April 2025 increased +0.7% on the previous 12-month period (May 2023 to April 2024). Volume sales grew +4.3%, however prices fell -3.4%. There was no difference in trading days.

April’s PHMI index was 98.0. With one less trading day compared to the Index base period, the like-for-like value sales Index was 101.3.

Mike Rigby, Managing Director of MRA Research, which produces the report says: “ONS data for April shows +0.9% growth in monthly construction output. At a sector level, the best performers were infrastructure new work, up +2.0%, and private housing repair and maintenance, up +1.5%, which is encouraging.

“After a disappointing start to the year, the Chancellor’s June spending review pitched a confusing blizzard of promises to spend, spend, spend. But the independent Institute for Fiscal Affairs, which the Government indirectly funds to inform us about its public spending, confessed it was ‘baffled’ by a speech that ‘did not appear to be a serious effort to provide any useful information to anybody!’

“However, construction appears to be a major beneficiary. The Chancellor pledged £39bn for social and affordable housing – the biggest investment in a generation – in grants for local authorities, private developers and housing associations. But the gap between spending announcements by the Government and completed buildings is long, and simply jaw-dropping when it comes to infrastructure projects. We wholeheartedly support the Government’s aim of fixing its planning problem to build new homes, but the Government’s 1.5m homes pledge is a hostage to fortune that will surely come back to bite it. Britain is seriously short of the skills to build these new homes and it’s questionable if measures to improve them will work in time. It’s also debatable if it has the building materials capacity to build them despite announcements of several major new industry investments which will also take time to come on stream. Meanwhile, according to the Home Builders Federation, planning bottlenecks seem to be growing not decreasing.”

The Plumbing & Heating Merchant Index (PHMI) is the first to analyse point of sales data collated from specialist plumbing & heating merchants with combined annual sales of £3bn, to chart their performance month-to-month.

Based on data from NIQ GfK’s Plumbing & Heating Merchant Panel, which represents over 70% of the market by value, the report provides reliable data and a platform and voice for the industry, as well as for leading plumbing & heating brands. It is produced by MRA Research for the Builders Merchants Federation. There is no overlap or double counting between PHMI and the Builders Merchants Building Index (BMBI) sales data.

To download the latest report, or learn more about becoming an Expert, speaking on behalf of your market, visit www.phmi.co.uk.