It’s not often that you can buy a bike at a bargain price.
And when you can, it’s because the bike is under-priced.
But a new survey shows that some bike enthusiasts are struggling to find the right deals.
The survey of around 5,000 people in the UK, by Bike Exchange, found that the average price of a bike has increased by £1 over the past 12 months.
“The average price for a bike was £25,000 when the survey was conducted last year,” said Bike Exchange CEO Chris Davies.
“However, the price of the bike itself has gone up by £150,000.”
The survey found that about 40% of the respondents were not able to find any cheap bikes on sale in the current cycle.
The biggest increase in the average was in the bike market itself, where prices have increased by more than 40%.
Bike Exchange is offering a £20 discount on bikes up to £100, and a £1 discount on up to 20 bikes per purchase.
“We are always looking to bring more value to our customers and this survey provides an excellent opportunity to help,” said Davies.
“The price of bikes has gone down a great deal this year, but it’s important to remember that it’s still well above the current market prices, which have increased for more than 12 months.”
In the UK more than 100,000 bicycles are owned by over 8,000 individuals.
The average age of a buyer is 36.