The UK used car market finished 2019 strongly, with each market segment registering a price rise in Q4, according to Aston Barclay.
The fleet sector recorded an 8.4% rise (£763) in average price to £9,799 during the quarter, supported by a third consecutive fall in average mileage to 47,000 miles, while retaining an average age of 42 months.
The late and low sector reported a year-high in Q4, with prices rising 2.8% (£420) to £15,158. This was helped by a fall in average age and mileage to 21 months and 19,250 miles.
Overall prices in the sector rose by 6.4% during 2019 as dealers reported strong demand for 18-24 month old used stock.
Diesels saw price growth of 8.8% (£656) to £8,046 during the quarter, while used petrol vehicles jumped £257 to £4,470. Alternatively-fuelled vehicles reported their first quarterly price fall of 2019, dropping in value £637 to £13,375. Aston Barclay attributed this to the year finishing with a poor and depleted mix of stock.
Prices across all three dealer part exchange sectors rose, with young market stock aged between 55 and 78 months rising the highest (8.5% to £6,153).
“During Q4 prices across the board rose back to the pre-book drop levels of Q1,” explained Martin Potter, auctions managing director at Aston Barclay. “Every sector saw an increase in demand and prices which was further galvanised by the December election which finally put the Brexit indecision to bed.
“The market looks set for a positive Q1 and it will be interesting to see how the new plate-change in March alters the new car used car equilibrium, if at all. Diesel prices made a welcome comeback in Q4 and shows how resilient demand for the fuel is, particularly in the family hatchback and larger SUV sectors.”