12 | Statistics Update: Builders Merchants
TIMBER AND JOINERY LAG YEAR-ON-YEAR
Latest BMBI statistics reveal Q3 timber and joinery value sales up +3.2% on Q2, but -4.8% behind year-on-year
SUMMARY
■Total value sales for builders’ merchants in Q3, 2024 were down year-on-year
■Year-on-year, timber and joinery products was down more than total merchants
■Quarter-on-quarter, timber and joinery products fared better than total merchants
Above: Simon Woods, West Fraser
The latest figures from the Builders Merchants Building Index (BMBI), published in November 2024, show that total value sales for Q3 2024 were down -2.6% compared to Q3 2023, with volume sales down -2.8% and prices virtually the same (+0.2%). With one additional trading day this year, like-for-like sales (which take the number of trading days into account) were -4.1% lower. Five of the 12 categories sold more in Q3 2024, led by work wear and safety wear (+16.5%). The two largest categories – timber and joinery products (-4.8%) and heavy building materials (-3.5%) – were both down more than total merchants. Renewables and water saving (-29.1%) was the weakest. Quarter-on-quarter, total value sales for Q3 2024 were up +1.7% on Q2 2024. Volumes increased +2.3%, while prices were down -0.6%. Ten categories sold more quarter- on-quarter, with work wear and safety wear (+6.6%) growing most. Timber and joinery products (+3.2%) fared better than total merchants. Landscaping (-9.3%) and kitchens and bathrooms (-0.1%) were the weakest categories. With three more trading days in the most recent period, like-for-like sales were -3% lower. “As we navigate the evolving dynamics of the sector, while considering our budgets and plans for 2025 and beyond, the government
seems to be focussed on sound bites….300,000 houses a year is one that sticks in my mind,” said Simon Woods, European sales, marketing and logistics director at West Fraser and BMBI’s expert for wood-based panels. “The UK will most likely see a recovery of new house build activity – yet not to the volumes the new government is stating. A 10% growth would be the best position
we could hope for in 2025 and considering the 2024 low base, that won’t consume the production of manufacturers nor fill the vehicles of builders’ and timber merchants. “Most of the domestic growth (if any) will come from the repair, maintenance and improvement (RMI) sector. As we see the interest rate drop, along with inflation, then consumer confidence will improve and some of the accumulated higher savings will be released. With homeowners increasingly investing in upgrades and sustainability- focused retrofitting, businesses positioned to support this shift will find significant opportunities.
“The US has seen some improvement in recent weeks, in the supply/demand balance of both wood-based panels and sawn timber – let’s see what happens with the Trump presidency and what initiatives he will bring.” ■
For the latest reports, expert comments and round table debates, visit
www.bmbi.co.uk
Above: Quarterly sales, year-on-year
The Builders Merchant Building Index (BMBI) The BMBI is a brand of the BMF. The BMBI report, which is produced and managed by MRA Research, uses GfK’s Builders Merchant Point of Sale Tracking Data which analyses sales out data from 92% of generalist builders’ merchants’ sales across Great Britain. The full report is on
www.bmbi.co.uk
TTJ | January/February 2025 |
www.ttjonline.com
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