NAMA compiled the report from data taken from the sales of 100,000 vehicles at a variety of auction houses over the last 12 months and said values had risen for three consecutive months.
It said overall market conditions in October were encouraging with total sales volumes up by 10% month-on-month with conversion rates rising from 75% to 81%.
“The increase in market conditions can be almost entirely attributed to the shortage of clean used LCVs pushing up values as buyers needed to pay more for better quality lower mileage vehicles,” said NAMA.
NAMA also found that in October the average first time price was £4750 – £425 more than the average price for a van that was re-entered at auction.
Alex Wright (pictured), chairman of the NAMA Commercial Vehicle Group and head of Shoreham Vehicle Auctions, said: “October recorded both the highest prices and sales for the year so far. This all points towards an underlying strength within the LCV market which could carry the sector smoothly into 2013.
“NAMA believes that during November the underlying stock shortages that are a continuing feature of the long term market will become evident once again. We would also expect to see a few dealers start to proactively buy for January.”
