AUCTION4CARS says average used car prices have risen to their highest level for six months.
The car auction website has reported that October saw average prices rise by 11 per cent to £2,745.
Auction4Cars’ figures back-up Manheim’s and BCA’s who have reported similar news. Auction4Cars believes their figures are ‘real evidence of a shortage among the trade for good quality used stock’.
While there is a shortage of stock however, the volume of sales remains high – the firm has seen record numbers of dealers use their website.
Neil Prescott, group disposal manager at Motorpoint, said: ‘There is clearly a shortage of good quality stock available in the marketplace at the moment, which is why we have seen prices rise sharply last month. However, we expect things to level off at the end of the year.’