are used car prices falling in australia

Short answer: yes—used car prices in Australia have eased from their 2022 peak through 2023–2024 as supply recovered and rate hikes took the fizz out of demand.

Depreciation is behaving like it used to, with many models slipping month to month, while popular utes, hybrids and low‑km SUVs are proving stickier.

Trade-in offers have softened, but private listings can still hold firm if the car’s clean, well‑optioned and has a proper service history.

Buyers: broaden your search radius, be patient, and you’ll likely pay less than last year; sellers: price realistically or prepare for tumbleweeds.