The average price of used LCVs rose by 2.5% month-on-month in November, according to auction firm BCA.

It said the increase, of £240 to £9,914, was driven by demand for vehicles from the online shopping and home delivery sector in the run-up to Christmas.

Last month’s average was just £15 lower than that seen in November 2021, and the highest seen since July this year.

Sold volume also increased, while performance against guide price averaged 98.4%.

BCA UK COO Stuart Pearson said: “Demand for LCVs responded to seasonal pressures and we saw average selling values improve at BCA during November.  

“Values increased for light commercials suitable to service the hub delivery, courier and final mile home delivery sectors ahead of Christmas and there was sustained interest in 4WD commercial vehicles as the weather worsened during November.

“There was substantial competition for any commercial vehicle offered in Grade 1 or ready to retail condition.  There continues to be a shortage of late plate, low mileage commercial vehicles reaching the wholesale sector, reflecting the issues affecting the new LCV market which declined by 22.2% in November – the lowest level for the month since 2013.

“This dearth of stock at the front end is likely to mean that used van values should remain resilient and we are expecting this to continue into the New Year.”