PHMI August value sales up +1.8% year-on-year, but volumes down-5.4%

The latest Plumbing & Heating Merchant Index (PHMI) report, published in October, shows like-for-like value sales (adjusted to remove the impact of trading days) for August 2026 through specialist plumbing and heating merchants were +1.8% higher than August 2025. But, year-on-year, like-for-like volume sales decreased -5.4%, while prices increased +7.6%.

With no difference in trading days, unadjusted value sales for August 2026 also increased +1.8% compared to August 2025. Unadjusted volume sales dropped -5.4% year-on-year, and prices rose +7.6%.

 

 

 

 

 

 

 

 

 

Compared to July, August like-for-like value sales were +1.1% higher. Like-for-like volume sales increased +1.6% month-on-month but prices decreased -0.5%. With three fewer trading days in August, unadjusted value sales were down -12.0%. Unadjusted volume sales fell -11.6% and prices decreased -0.5%.

Like-for-like value sales in the three-months from June to August 2026 were +0.2% up on the same period the year before. Like-for-like volumes sales, however, were down -8.5% and prices increased +9.5%. With one extra trading day in the latest three-month period, unadjusted value sales were up +1.8%. Unadjusted volume sales dropped -7.1% but prices increased +9.5%.

Compared to the previous three-months (March to May 2026), June to August 2026 like-for-like value sales were down -9.4%. Like-for-like volume sales were -9.8% lower and prices +0.4% higher. With four more trading days in the most recent three-month period, unadjusted value sales were -3.5% lower. Unadjusted volume sales were down -3.9% while prices were up +0.4%.

Plumbing & Heating merchants’ like-for-like value sales in the 12-months from September 2025 to August 2026 were +0.5% higher than the previous 12 months (September 2024 to August 2025). Like-for-like volume sales were -5.1% down, and prices rose +5.9%. With one extra trading day in the most recent 12-month period, unadjusted value sales increased +0.9%. Unadjusted volume sales were down -4.7%, while prices were up +5.9%.

In the first eight months of 2026, year-to-date like-for-like value sales were up +0.2% compared with the same eight months of 2025.

Mike Rigby, Managing Director of MRA Research which produces the PHMI report says: “The latest ONS construction data reveals that construction output has fallen for four consecutive months, down -0.2% in August. The ONS has revised its July output figure of +0.1% up, to -0.5% down as more data became available. Private housebuilding’s output has dropped -3.2% over the past three months, and down -1.9% in August, is depressing total construction output.

“While housebuilding is struggling, further encumbered by extra costs and regulations casually imposed by Government – the House Builders Federation calculates they add an extra £38,030 to the average cost of a new build home – the UK economy is showing remarkable resilience. The latest ONS figures suggest GDP increased +0.1% in August. Annually, the economy has grown +2.1% – it’s strongest rate since August 2022. The IMF’s latest forecast puts Britain’s growth equal second among the G7 group of advanced economies, after the US economy which is storming. Our national media and politicians are so used to talking Britain down that they’re surprised by such confidence in the UK.

“So far, the public has been more positive and resilient. The GfK Consumer Confidence Index showed a 1-point increase to -13 in September, marking a third month of consecutive improvement for the first time since 2024 despite constant knock-ons from trade, hybrid and real wars inflating prices and risking disruption. A lot is riding on the Autumn budget. Good or bad, it will determine whether consumers and businesses feel better or worse off under Andy Burnham. The ripples will be felt throughout construction.”

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.