“They buyers who are in the market are trying to pick up a cheap license.
“So the people who are selling are in circumstances where they just have to sell and what we are seeing is some very low prices.”
Mr Davies said some taxi drivers needing money were being forced to sell their licences at less than $150,000.
“I would say that $150,000 is probably a mark where some people have been selling, but we had one sell for $108,000,” he said.
“That was in Brisbane. It was a Brisbane licence.”
Brisbane cab driver Jagjit Singh said Brisbane cab licence prices have dropped as low as $110,000Photo: Tony Moore
Brisbane cab driver Jagjit Singh agreed taxi licence prices had collapsed.
He bought his licence about 18 months ago and paid “a lot of money for it.”
He said $150,000 for a taxi licence was considered a good price and licences he knew had been sold received less.
“Less than that, less...
Read more: A $530,000 Qld taxi licence is now worth less than $150,000: cabbies - Brisbane Times