BHETA ECONOMIC SNAPSHOT BHETA EC BHETA EC CONOMIC SNAPS
BROADEN YOUR SALES HORIZONS
The latest facts and figures from the British Home Enhancement Trades Association – and what they mean f or suppliers to the home improvement industry .
director Paul Grinsell says:
TA DIY sector “Retail sales
many possible reasons – a late Easter a slide in consumer confidence, r ecent price increases, or maybe the Election. Plenty of speculation, but not so many facts.
are down and it’s the worst consistent decline in the figures since 2013. There are r,,
“So her e is a fact: Ther e cannot be a better time to look out beyond your usual r outes to market to see if ther e ar e other sectors and other markets that might pr esent incr emental
Are you maximising relationships with the online retail giants as they move mor e and mor e into DIY and gar den? Is there mor e you could be doing via the wholesale route into the independent market? Ar e you investigating export? Could your range be relevant – or easily adapted to be relevant – to other types of r etailer such as the gar den centre, or the farm shop? Is there a commercial application for your pr oducts that would be marketable to specifiers or the building trade? “It has got to be worth exploring the opportunities.”
Consumer Prices Inde x – March 2017
The Consumer Prices Index, including owner occupiers’ housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.3% in March 2017, unchanged from February. Rising
prices for food,
and tobacco, clothing and footwear miscellaneous goods and services were the main upward contributors to change in the rate. These were largely offset by a downward contribution fr om transport, particularly air fares and, to a lesser extent, motor fuels. The Consumer Prices Index (CPI) 12-month rate was also 2.3% in March 2017, unchanged from Febr uary
ng and footwear ff
Retail Sales – March 2017
The thr ee months to Mar ch shows a decrease of 1.4%; the thir d consecutive decrease for the underlying three- month-on-three-month pattern.
Looking at the quarterly movement, the three months to March 2017 (Q1) is the first quarterly decline since 2013 (Q4).
In March 2017, the quantity bought in the retail industry is estimated to have incr eased by 1.7% compar ed with Mar ch 2016 and decreased by 1.8% compared with February 2017; decr eases are seen across the four main store types. Average store prices (including fuel) increased by 3.3% on the year the
Av verage largest
ased by 3.3% on the year gr owth since March
2012; the lar gest contribution came from petrol stations, where year-on- year average prices rose by 16.4%. Online sales (excluding automotive fuel) increased year-on-year by 19.5% and by 0.5% on the month, accounting for approximately 15.5% of all r etail spending.
Mortgage appro vals – March 2017
The Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in March. This is 19% higher than February’s lending total of £17.9 billion, and 19% lower than the £26.3 billion lent in March last year. The sharp fall
on-year lending was expected, as March last year saw significant rises in activity as borrowers rushed to beat the second pr operty stamp duty deadline that came into ef the beginning of April.
hat came into effect from ff
Gr oss mortgage lending for the first quarter of 2017 was therefore an estimated £59.1 billion. This is a 4% decr ease on the fourth quarter of last year and a 6% decr ease on the £63.0 billion lent in the first quarter of 2016.
Average house prices in the UK have increased by 5.8% in the year to Febr uary 2017 (up fr om 5.3% in the year to January 2017). However this still remains below the average annual house price gr owth seen in 2016 of 7.3%.
– Monthly house price inflation – Februar y 2017 Av
House Price Index verage h January 2017). However r,,
The average UK house price was £218,000 in February 2017. This is £12,000 higher than in February 2016 and £2,000 higher than last month.
12 MAY 2017 DIY WEEK 7
Labour Market three months to February 2017
Estimates from the Labour For ce Survey show that, between September toNovember 2016 andthe three months to Febr uary 2017, the number of people in work increased, the number of unemployed people fell, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) also fell. There were 31.84 million people in work, 39,000 more than for September to November 2016 and 312,000 more than for a year earlier. The employment rate (the
pr oportion of people aged fr om 16 to 64 who wer e in work) was 74.6%, the joint highest since comparable recor ds began in 1971.
Construction output – February 2017
Output in the constructio ru uction industry
gr ew for the fourth consecutive period on a three month on thr ee month basis, increasing by 1.5%. Despite growing three month on three month, output fell by 1.7% in February 2017 in comparison to January 2017. On the back of strong growth in January 2017, infrastructure provided one of the main downward pressures on output in Febr y,
uary, decreasing by 7.3%.
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