The average value of a used fleet and lease van sold at BCA rose by £306 (4.4%) to £7,190 in October, the highest point since Pulse began reporting in 2005.

Retained value against MRP (Manufacturer Recommended Price) improved by 1.5 percentage points to 36.63%.

Year-on-year, values were up by a significant £763 (11.8%), with both average age and mileage continuing to decline compared to the same period in 2015.  

The headline average value of a used LCV sold at BCA rose to a record £6,368 in October.

BCA reported exceptionally strong sales around the company’s nationwide network, with average values rising by £238 (3.8%) over the month to reach record levels for the third month running.  Average LCV values were up by £724 (12.8%), year-on-year.

Duncan Ward, head of commercial vehicles at BCA, said: “With recent surveys suggesting improved confidence in small business sectors, an expanding economy according to the Office for National Statistics and a relative shortage of good quality stock, there is plenty of demand in the used van market.

"Both professional buyers and end users are bidding confidently across a range of makes, models and configurations with lots of competition for LCVs that are in ready-to-retail condition.

"Values for the best examples will outstrip price guide expectations by a considerable margin.

“As the Christmas season approaches, online retailers will place increasing demands on the parcel delivery and courier sector, and we expect to see continued interest for larger panel vans over the next few weeks. 

"The budget van sector is also buoyant, with average values for part-exchange stock rising to the second highest point on record in October."