Used LCV values were up by 0.3% month-on-month in November, according to auction company BCA.

An average sale price of £9,892 was also a 16.4% average compared with the same month in 2020.

While the month-on-month picture was broadly stable, BCA said the weekly average had moved from £9,141 at the start of November to a high point of £10,488 later in the month, which it attributed to increased demand for home delivery vehicles in the run-up to Christmas.

BCA UK COO Stuart Pearson said: “The used LCV market remains exceptionally competitive and average selling values at BCA have consistently outperformed guide price expectations throughout 2021. 

“The strong market that we’ve experienced reflects the ongoing economic shift supported by consume-driven online activity plus the well-documented challenges with new LCV supplies. 

“In addition, and as we anticipated, we have seen demand increase in the final weeks of the year to meet the needs of the hub delivery, courier and final mile home delivery sectors.”