One of the unforeseen consequences of the Covid era was an unprecedented boom in the caravanning and camping lifestyle … and that, of course, meant surging demand for RVs.
Waiting times for new van builds ballooned, and prices for second-hand vehicles skyrocketed.
Depending on which side of the buying and selling equation grey nomads were on, it either meant a bit of frustration, or an unexpected windfall.
However, the Caravan Industry Association of Australia (CIAA), says soon-to-be grey nomads will find things are definitely settling down now. CIAA General Manager, Luke Chippindale, told the GNT that, while the underlying market remains in good shape, there has been a moderation in new caravan demand.
Second-hand vans remain hot property ... and can still command a good resale value
“It is fair to say that while the industry hit record heights during Covid recovery, the market has started to stabilise,” he said. “New vehicle manufacturing slowed in the 2024 calendar year by 18%.”
Mr Chippindale says this is great news for wannabe grey nomads.
“If you’re buying new, the lead times are gone and many dealers will be able to see customers into new product very quickly,” he said. “Customisation remains possible, and your vehicle is likely to retain good residual value, provided you select a layout, build quality and brand with broad appeal.”
And he says that, for those buying second-hand, there are real opportunities with more listings, stable pricing, and immediate availability. He warns though that it pays to be careful and to check build quality, service history, compliance … and that the seller is reputable.
Mr Chippindale says that grey nomads who are thinking what their eventual resale value will be when it comes time to sell can also take comfort … although they should not assume double-digit annual appreciation seen in the boom years.
“Rather than a collapse, what we’re seeing is a stabilising of price momentum in used vans,” he said. “Well-maintained and sought after layouts still command strong value; less desirable models and older units may experience longer listing periods and greater price sensitivity.”
He says grey nomads contemplating a purchase should think medium-term (5-10 years+) rather than expecting short-term speculative gains.
“The value proposition is both lifestyle (travel flexibility, regional engagement) and residual value,” he said. “And the industry indicators remain favourable.”
And it seems that those seeking to live the dream still understand that the real value of a caravan or motorhome is in the joy it can bring, not its worth in dollars and cents.
Grey nomads, Barb and Bill Skehan, bought their Jayco Journey Tourer back in 2020, having had it built to their own specifications.
Having enjoyed numerous incredible adventures in their ‘home away from home’, Barb says the couple realised they were slowing down, and it was time to move onto their next chapter.
“We sadly sold our van recently,” she said. “But we sold it to a lovely couple who have many travel plans of their own!”
And so, the circle of grey nomad life continues!
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We bought our one & only caravan new 15 years ago,
It will be the only one we ever own.
It’s done 180,000 kilometres.
We don’t care what it’s worth now because we’ll never sell it.