It feels a little like groundhog day – I find myself sitting here looking for new prose to describe the same thing: 360 prices continue to rise in the wake of unrelenting demand. The average asking price has risen 2.97% over the last month which leaves the price index at 127.91. That’s more than a 25% increase in the last year and nearly 30% from the depths of winter 2013 (the last time there was any meaningful fall in prices).
All the lower priced cars seem to have been taken off the market and prices now start at £50k – which doesn’t even buy you a particularity nice car these days. A few years back these cars would have been selling for low £30k’s (which incidentally would only buy you the well used Silverstone cars now, all of which have been sold).
Activity in the run up to the start of summer remains robust with 19 cars sold and just 11 replacing them. The number of cars for sale is at its lowest since I started collecting data, a trend which is repeated with other tipos (people tend to be holding onto their cars).
When I started collecting data £55k seemed to be a tipping point in the market with cars over this number tending to be super prime and few and far between. It wont be long before there aren’t any cars offered for sale below this level…
Here is the main data table:
And here’s the plot of price vs mileage. Note that I have taken out the ridiculously priced spider at £139k as it skews the chart. Unsurprisingly this hasn’t sold (if anyone has been to see it please drop me a line – I be interested to hear about the car).
Prices seem to be fitting the line very well, with few outliers. Here’s the table of asking prices for the different mileage points.
Here’s the big table showing which cars are in and out of the data this month:
I ended last months update with a warning for buyers and I’d like to reiterate it. Over the last month I’ve seen quite a few cars offered for sale that at best were hiding thousands in deferred maintenance and at worst shouldn’t have been on the road. Please be very careful!
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