Used LCV values fell month-on-month during October, but were still well ahead year-on-year, according to auction firm BCA.

It reports the average price of LCVs sold during the month was £7,324, compared with £7,568 in September, and £6,764 in October 2017.

BCA put the monthly fall down to a rise in average age and mileage, with a higher percentage of dealer part-exchange vans sold.

Among market sectors, fleet and lease values were down month-on-month from £8,517 to £8,324, though this was still the fourth highest on record, and a £540 year-on-year increase.

Average part-exchange values were steady at £4,621, a year-on-year rise of £206 despite rising age and mileage, the latter by nearly 7,000 miles.

Nearly-new LCV values rose in October to £16,236, the third highest monthly value recorded this year, and a year-on-year increase of £609, though as always BCA warns of the effect of low volumes, the model mix factor and availability of stock in this sector.

BCA COO for UK remarketing Stuart Pearson said: “As we have reported consistently throughout this year, the LCV market at BCA has seen continued growth, with values currently over 8% ahead of where they were last year.

“Online sales volumes continue to grow, with many vendor sections now selling 50% of stock to BCA Live Online bidders. 

“Demand remains strong across the range of product on offer at BCA, with both corporate and dealer vendors enjoying excellent conversion rates.

“Vendors should be aware that buyers are getting more selective on base specification and duplicated stock and condition remains critical across the board.”

Pearson added that the approaching Christmas period is driving interest in larger delivery vehicles supporting the online shopping sector, and there is continuing demand for LCVs to service the construction and civil engineering industries and the small business and entrepreneurial start-up sector.