It had to happen at some point – after reporting five consecutive months of price gains, average 360 prices have fallen. The price index is down nearly 3% over the last the month and now stands at 125.64. However, before anyone gets any ideas, it is worth looking at how this drop in the average price has occurred. Buyers hoping for deep discounts are going to be disappointed as asking prices in the bulk of the market are unchanged. At the top end, the HR Owen car up for £88k has dropped out of the sample and the JCT600 car has been discounted by £15k. At the other end of the market, four new cars have been listed by private vendors in the low to mid £40k’s. The combined effect of these has dragged the average price down.
I’m not sure how long I’m going to present the following table for. In the past £55k was a tipping point between good drivers cars and super-prime examples. These days it is just enough to get you into a decent 360….
This is a new chart for this month. I have added a little algorithm that categorises the cars that have dropped out of the data sample during the prior month. If we assume these cars are sold, then it gives a good idea of where the movement in the market is occurring.
Here’s the breakdown of the cars (presumably) sold:
Here’s the big table – note the jump in LHD cars offered for sale (it was just 1 last month). I’ve been seeing a lot of cars being brought over from Europe, both for private use and to flip into the market. Given what has happened in the more specialist market (think Stradale and Scuderia) I would expect the price differential for LHD cars to narrow as the gap is exploited.
Here’s the mileage vs price data:
Here’s the big table showing which cars are in and out of the data this month:
That’s it for now – please do not hesitate to contact me if you think I can help with anything further.
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