Used LCV values were down by 1.8% month-on-month in September, according to BCA.

The auction company said the slight decrease, to an average value of £9,687, was largely a result of the change in model mix that is typical at this time of year, as volume swelled and the delta between the prices of the best and less desirable stock grew.

Prices were also down on the £9,902 average recorded in September 2021.

Performance against guide prices improved last month for the second month running, rising to 98.8% over the month.

After LCV values peaked in the last week of August, BCA said values initially fell in September, before climbing steadily week-on-week to nearly £10,000 in the final week of the month.

BCA UK COO Stuart Pearson said: “We are hearing anecdotal reports from our buyer customers that retail van sales have been relatively strong in September despite the ongoing economic pressures and the political turmoil of recent weeks that saw the cost of borrowing rise and inflation rate figures at a forty year high.

“September’s LCV market continued to show some encouraging signs with good churn and rising sold volumes. Alongside strong levels of demand for panel vans in every configuration we have seen increasing interest in 4×4 double cabs in recent weeks – further indication of the return of seasonal trends to the LCV sector.  

“Whilst the delta between the prices of the best presented and poorer condition LCVs needs to be closely managed, currently buyer and seller expectations are reasonably aligned which is keeping stock turning and entries fresh.”