170223 Numerous dealership forecourt OXFORD.VW FORD NISSAN MOT MERCEDES TOYOTA INTEREST RATES LOAN FINANCECAR TRANSPORTER BCA VAUXHALL HARTWELL USED CARS NEW CARS SECURITY MAZDA VAN VANS PICK UP SERVICE SERVICINGPhotographer: David Berman
London and the south-east skilled the largest drops in common used automotive costs in November.
The falls had been a part of a wider pattern which noticed worth corrections throughout the UK.
Motors’ November Market View exhibits London costs dropped 4.3% month-on-month (MoM) from £24,043 to £23,014.
Though the capital remained the costliest place to purchase used vehicles, considerably larger than the nationwide common of £17,961, this marked the second month-to-month drop in a row following seven rises since January, peaking at £24,500 in September. Regardless of this November was up 4.9% year-on-year (YoY).
The south-east recorded a 1.7% MoM fall from £18,077 to £17,776, additionally the second month-to-month drop within the row following a succession of regular rises since January, peaking at £18,524 in September. November ended 1.3% up YoY.
Different areas to expertise drops in November had been East Anglia (-0.9%) and the south-west (-0.8%).
Elsewhere areas extra intently mirrored the nationwide pattern with MoM uplifts, led by Scotland which elevated 2.6% from £17,694 to £18,149, a brand new excessive for the yr however down 2% YoY. The second greatest enhance was the north-east, up 2.1% from £15,923 to £16,253 however down 5.5% YoY.
Wales, which maintained its place as having the bottom used automotive costs within the UK, noticed a 0.7% enhance from £14,615 to £14,718, a brand new excessive for the yr and three.7% forward YoY.
“November was a month of small but notable used car price corrections across the UK with London and the south-east trending downwards but most regions seeing uplifts above the national average rise of 0.2%,” mentioned Lucy Tugby, advertising director of Motors.
“For dealers this highlights the importance of pricing vehicles as keenly as possible and monitoring national and regional prices because buyers will shop around online for savings, even if it means purchasing outside their local area,” mentioned Tugby
