The average price of a used car on Auto Trader rose to £18,263 last week – a massive 20.8 per cent increase year on year.
Figures released by the online marketplace for the week of September 20 to 26 show there was a 1.1 per cent week-on-week upswing, as the used car market continued to defy expectations.
Yesterday, we reported how valuation expert Cap HPI was saying that now was the time for people to cash in on their vehicles as used car prices rocketed once more during September. with head of valuations Derren Martin admitting that even he had underestimated the demand for second-hand cars.
Auto Trader said the average time to sell a used car was now 22 days.
Top of the price climbers was the Citroen C5, pictured, on £3,833 – a rise of 19.3 per cent year on year.
Second was the Jaguar S-Type at £4,256, which was a 17.6 per cent increase, while the MG3 was in third place, going up by 17.2 per cent to £8,063.
The Honda Accord was fourth – up by 17 per cent to £4,408 – and the Mercedes-Benz G-Class was placed fifth after its average value went up by 15.2 per cent to £100,898.
Meanwhile, at the other end of the scale, the BMW X7 went DOWN in average price by 19.1 per cent to £70,534, the Audi SQ2 fell by 18 per cent to £29,448 and the Lexus RX 400h dropped in value on average by 17 per cent to £5,951.
The DS 7 Cross saw its price decrease by 15.1 per cent to £25,549, and the Citroen C5 Aircross didn’t fare well at all compared with its non-Aircross stablemate, suffering a 14.6 per cent reduction on average to £21,014.