BMBI: Merchants’ November value sales fall -4.6%, as prices drop -3.4%

The latest Builders Merchant Building Index (BMBI) report shows builders’ merchants’ value sales in November were down -4.6% compared to the same month in 2023. Volume sales slipped -1.3% and prices were also down -3.4%. With one less trading day this year, like-for-like value sales, which take trading day differences into account, were flat (-0.1%).

Year-on-Year

Year-on-year, just one category sold more – Tools (+3.5%). The two biggest categories, Timber & Joinery (-6.0%) and Heavy Building Materials (-4.0%), were both down compared to 2023 while Renewables & Water Saving (-15.1%) was the weakest category.

Month-on-Month

November total value sales were -10.0% lower than the previous month. Volume sales fell -11.2% compared to October, while prices rose +1.3%. All twelve categories sold less, but half did better than Total Merchants: Kitchens & Bathrooms (-2.6%), Plumbing Heating & Electrical (-7.0%), Workwear & Safetywear (-7.7%), Miscellaneous (-8.2%), Tools (-9.6%) and Timber & Joinery Products (-9.9%). Heavy Building Materials (-10.4%) was down more than Total Merchants while Renewables & Water Saving (-17.1%) declined the most. With two less trading days, like-for-like value sales were down -1.4%.

Latest 12 months

In the 12-month period December 2023 to November 2024, total value sales were down -4.7% compared to the same period the year before (December 2022 to November 2023). Volume sales were -5.3% lower and prices were up +0.7%. Heavy Building Materials (-6.3%) and Timber & Joinery Products (-7.0%) both declined more than Total Merchants. The strongest performing categories were Workwear & Safetywear (+10.9%), Tools (+6.1%) and Decorating (+2.1%). With two more trading days in the most recent period, like-for-like value sales were -5.5% lower.

Andrew Simpson, Packed Products Director at Heidelberg Materials, is BMBI’s Expert for Cement & Aggregate, comments…

“For cement and aggregates suppliers the Autumn Budget provided much-needed assurances about the Government’s commitment to the 1.5 million homes target, with the Chancellor investing £5 billion in measures to boost housing supply over the next five years. This is very much welcomed by the industry, and we are happy to gear up to meet a level of housebuilding which hasn’t been seen since 1977/78, but we need more details about how this is going to happen to commit our own investments. 

“To do this, we’d welcome engagement from the government so we can deliver a joined up and realistic plan to meet housing targets and deliver the infrastructure which will be needed for those new homes – such as roads, schools, shops and GP’s surgeries. We don’t envisage material shortages, but if increases in orders aren’t planned and activity spikes, it will impact the supply chain. And where are the skilled workers coming from to build these houses?

“This unprecedented level of development must also be sustainable. We hosted our latest Talk About Sustainability event and introduced evoZero – the world’s first carbon captured net-zero cement – which will soon be available in the UK. It’s part of our £1billion investment in 20 sites around the world to develop low carbon and circular products.

“Without careful planning and industry engagement, the Chancellor’s lifeline for housebuilding could be a very costly white elephant.”

BMBI Experts speak exclusively for their markets, explaining trends, issues and opportunities. For the latest reports, Expert comments and Round Table videos, visit www.bmbi.co.uk. 

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