This will be a very brief update, although I am still without a car I have leads on a couple of cars that need following up. I am hopeful that I can put a deal together this weekend and make an announcement shortly. After so many disappointments, I’d almost forgotten what it felt like to get excited about and chase down a nice car. Fingers crossed it works out….
The headline AV360PI has dropped 0.30% MoM and now stands at 97.48. This doesn’t tell the whole story though, the distribution of prices against mileage has changed a little (I’m sure all will agree that it is mileage that is the biggest driver in this market). In finance terms, the “wings” have softened and the curve has flattened. In English, asking prices of low and high mileage cars has dropped which has dragged the average price down. However, prices of cars with mileage in the centre of the range has actually firmed a little.
Here is the chart:
And here is the table of theoretical asking price vs mileage:
Here is the main table of the data cut by bodystyle, transmission and colour:
The number of cars for sale has also dropped – there are a third less cars advertised than this time last month and I have noticed quite a few dogs that I had viewed in the past fall off the market (lets hope they went to auction and weren’t retailed to some unlucky punter). I was talking to someone in the market last night and their opinion was that January would bring a number of cars onto the market with motivated sellers. All very good if you have patience but when you’ve been looking for a car for as long as I have it is in short supply at the moment!
Other posts in this category: Buying and Selling
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