(Decanter) - Bordeaux lost more ground to Burgundy and Italy in 2015, but the overall fine wine market has shown greater stability, says a review of the past 12 months from the Liv-ex trading exchange. 

Bordeaux‘s market share on Liv-ex has dropped to levels not seen since 2004, Liv-ex said this week in its review of the fine wine market 2015.

Liv-ex review highlights:

• Bordeaux’s share of trades by value falls to below 75%
• Burgundy, Italy and California gain
• Overall fine wine market stabilizes after four years of decline

Bordeaux still represented around three quarters of trades by value on Liv-ex in 2015, but its drop in share versus close to 90% a few years ago reflects ongoing consumer uncertainty over prices for recent Bordeaux vintages.

Fine wine buyers on Liv-ex have also continued to increase their interest in other regions in 2015, and notably wines from the most renowned estates in Burgundy, Italy and California.

The Liv-ex review offers an insight into the state of the fine wine market heading into 2016, although it is not an all-encompassing picture of the scene.

A key message in the 2015 review is a return to stability for the fine wine market, four years after a Bordeaux price bubble burst and led to consecutive annual declines in average prices.

Bordeaux Index, which tracks prices on its LiveTrade platform, has seen a 1.3% increase in fine wine prices year-to-date.

London-based Wine Asset Managers said last month that the market had been ‘holding reasonably firm’, but it warned against reading too much into the situation.

Liv-ex analysts said they were cautiously optimistic about 2016, particularly for Bordeaux.