February Builders’ Merchant like-for-like sales volumes drop -10.6% year-on-year
The latest Builders Merchant Building Index (BMBI) report, published in March, shows January’s builders’ merchant like-for-like total value sales (adjusted to remove the effect of trading days) were -2.6% lower than the same month in 2025. Like-for-like volume sales fell -7.2% while prices increased +5.0%.
With one less trading day this January, total value sales (unadjusted for trading day differences) were -7.0% lower than January 2025. On a similar unadjusted basis, volumes were down -11.4%. Prices rose +5.0%. Only one of the twelve categories sold more by value: Renewables & Water Saving (+8.5%). One of the two biggest categories, Timber & Joinery Products (-2.2%) fell less than Total Builders Merchants, but Heavy Building Materials fell -11.0%. Landscaping (-13.4%) was the weakest category.
With no difference in trading days, total value sales were -3.3% down in the three months December 2025-February 2026 compared to the same three months last year.
In the 12 months from March 2025 to February 2026, like-for-like value sales were up +0.4% compared to the previous 12-month period (March 2024 to February 2025). Like-for-like volume sales (+0.2%) and prices (+0.3%) both increased. With one less trading day in the most recent 12-month period, unadjusted value sales were flat (0.0%) with volumes down -0.2% and prices up +0.3%. By value, ten of the twelve categories sold more, led by Renewables & Water Saving (+8.3%). Timber & Joinery Products (+2.2%) were ahead of Total Builders Merchants, while Heavy Building Materials fell -1.7%. Decorating was weakest (-1.9%).
In the year to date (January to February 2026), like-for-like value sales were -3.4% lower than the first two months of 2025. Like-for-like volume sales were down -8.8% and prices were up +6.0%. With one less trading day in 2026, unadjusted value sales for the first two months were -5.7% lower year-on-year. Unadjusted volumes were down -11.0% while prices rose +6.0%.
Mike Rigby, Managing Director of MRA Research which produces the BMBI report says: “As I write this it’s Day 47 of the Iran War and it’s hard to see an end. Bewilderingly, Trump’s answer to Iran’s refusal to capitulate is to blockade their blockade so the Straits of Hormuz are totally sealed off to everyone. The rest of the world is being held over a barrel (an oil one). About one month from now, when average stocks run out, the global economy will be facing the consequences of an actual gas and oil shortage of about 10 million barrels a day, according to Wood Mackenzie, the global leader in data, analytics and insights for the energy and natural resources industry.
That’s equivalent to an economic hit like Covid. Some countries are already suffering shortages and knock on effects.
“The latest GfK Consumer Confidence Index shows a 2-point fall in March, to -21 – the third month of decline since January. The biggest drop was in views of the general economic situation over the next 12 months, which fell 6 points to -37. The major purchase index, indicative of potential spending on home improvements, tumbled 4 points to -18, while the savings index increased 6 points to 27. Consumers are very concerned about the impact of the war on the economy and are favouring money in the bank over spending.
“But there are some green shoots for merchants with a surge in consumer interest in electric vehicles and home energy upgrades, as consumers try to uncouple from erratic oil and gas prices. Octopus Energy and British Gas have both seen record increases in solar and heat pump enquiries. Paul Haynes, BAXI’s Product, Solutions & Marketing Director, BMBI’s Expert for Heating & Hot Water Solutions, says the heat pumps market was up +25% in 2025 year on year.”
Set up and run by MRA Research, the BMBI – a brand of the Builders Merchants Federation – is a monthly index of builders’ merchant sales, and the most reliable, up-to-date measure of Repair, Maintenance, and Improvement (RMI) activity in the UK. The index is based on actual sales from NiQ GfK’s Builders’ Merchant Point of Sale Tracking Data, which captures value sales out to builders from generalist builders’ merchants, accounting for 88% of total sales from builders’ merchants throughout Great Britain. An in-depth review, which includes commentary by sector experts, is provided each quarter.
Following feedback from national and some large regional merchants, MRA Research has made a few changes to the way builders’ merchant sales data is presented in the BMBI reports. More prominence is now being given to like-for-like sales metrics which, adjusted for trading day differences, give a better and more consistent measure of activity than unadjusted total value sales. Most merchants use both unadjusted sales values and like-for-like measures, adjusted for trading days, to give them an accurate steer on the market. There will be further small changes over the coming months to BMBI reporting, with further updates coming in due course.
February’s BMBI report is available to download at www.bmbi.co.uk.
