Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
The latest figures from the Plumbing & Heating Merchant Index (PHMI) report published by MRA Research show like-for-like value sales (adjusted to remove the impact of trading days) for April 2026 through specialist plumbing and heating merchants were up +0.5% compared to the same month in 2025.
Like-for-like volume sales were down -4.2%, while prices increased +4.9%. Compared to March, April like-for-like value sales were -4.9% lower, with month-on-month like-for-like volume sales up +1.1% and prices down -5.9%. With two less trading days in April, unadjusted total value sales were down -13.5%. Unadjusted volumes fell -8.1% and prices were also down (-5.9%).
Mike Rigby, managing director of MRA Research, says: “So far, 2026 has been a series of surprises, mostly unwelcome. Now, as we reach the midpoint of the year, what we want is what we were led to expect: positive signs of consistent growth. But this may be some way off. On the negative side of the ledger, new home registrations were down -6% in Q1 as rising costs and falling demand created poor market conditions for developers, with eight out of 12 regions seeing a decline.
“But on the sunny side of the ledger, the US-Iranian war, and maybe even the Middle East war, seems to be coming to an end. It’s an unpopular war even in the US, so now he has a face-saving exit President Trump will be keen to move on. Assuming Israeli Prime Minister Netanyahu doesn’t torpedo the peace, oil and gas prices will drop, the inflation spike will be short lived and the prospects for growth will rise. True, it will take months for ships to get to where they should be and for stocks to be rebuilt, and years to repair or rebuild some infrastructure, but this appears to be a very positive turning point.
“The latest GfK Consumer Confidence Index suggests things are starting to improve too. The May index was two points up to -23, with the mood lifting for personal finances and the economic outlook. However, the Major Purchase Index, indicative of intended spend on repair, maintenance and improvement (RMI), was down -2 points to -20, and the Savings Index dropped a remarkable -10 points. People are feeling the pinch and using savings to prop up day-to-day spending.”
