Used LCV values rose in January to their highest average since last July, according to BCA.

The auction firm recorded an average sale price of £9,938 last month, which also represented a 5.1% increase compared with December.

Performance against price guides also improved, by 3.9% to 102.7%, and sold volumes were also said to be well ahead month-on-month.

BCA has also revealed that average values rose on a weekly basis during January, peaking at £10,642 late in the month.

BCA UK COO Stuart Pearson said: “Demand for light commercial stock was frequently intense during January as the LCV sector got back to work after the December break.  

“Despite the ongoing economic issues facing every area of commerce – and small businesses in particular – there was healthy appetite across most of the LCV sectors, with the main point of volatility being in the small volume of electric vans defleeted.

“We’ve seen further acceleration of demand into February with the strength of the used LCV market surprising many.  With a significant March defleet extremely unlikely, competition for available stock means that used LCV values should remain resilient for some time to come.”