The average price of a used car in Britain has fallen by 1.5% in the last 3 months to £8,492 according to new car market statistics from Adzuna.co.uk. In times of economic austerity and rising fuel prices, Adzuna’s car price data shows that Britons are switching to functional, fuel-efficient makes like Honda and away from luxury brands like Jaguar.
Adzuna’s ‘Market Insights’ tool shows rising demand for Volkswagens, Hondas & Hyundais, whose sellers have seen a 3% rise in average prices in the last 3 months. In contrast, Jaguar, Aston Martin & Bentley values are falling the fastest with average used prices down up to 10% over the last month.
Cardiff, Swansea, Bristol and Plymouth have seen the largest 6 month falls in used cars prices, with the average used motor in these cities costing just £7,744 in November, 10% less than the national average. Reading & Cambridge remain the most expensive cities in the UK with average prices for the last 6 months consistently above £12,500.
According to the research, the fastest-depreciating car models in the UK are Renault Meganes, Clios and Peugeot 206s, worth less than half their new price after three years, while models like Volkswagen Polos, Golfs and Ford KA lose less than 30% of their value.
“Because we list all of the available used cars for sale in our search engine, Adzuna’s statistics offer the most up to date and comprehensive index of UK car prices.” said Andrew Hunter, the company’s Co-Founder. “It’s clear from these statistics that as we approach Christmas, cost, reliability & practicality are of paramount importance to car buyers in Britain today.”