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Average UK used car prices fell by 1.87% in September, according to Indicata.
The analysis company said this brought values 11.3% lower than they were in January 2022 - the biggest fall in that time of any European country - and that this was a sign of the market slowly getting itself back to a more affordable level.
In addition, it said used EV prices were starting to show signs of stability, following a 38% fall over the past 12 months. Indicata said this drop had helped to stimulate sales, and contribute to bringing down market days' supply (a metric which measures the supply of stock divided by the current sales rate over the past 45 days) to a similar level to petrol and diesel cars.
Indicata group sales director Jon Mitchell said: "It's still early days for used EVs but there are more consistent signs of rising sales and falling stock levels.
"Stock levels of used EVs are now more into line with ICE cars now which must be a positive sign.
"They are no longer having to play catch up which is important now used car volumes are rising as new car production improves."
Indicata has also noted that the Ford Fiesta was the best-selling used car in September, and the Toyota Prius the second fastest-seller - both models having now gone out of production.
Mitchell said: "The Fiesta and Prius were both in our top and fastest-selling tables in September and have been for some months. With no direct replacements planned it will be interesting to see which models take over the mantle.
"However, the Ford Puma has quietly become the best-selling new car in 2023 year-to-date, which is already translating into strong used demand."
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