The BCA Commercial Pulse reported a 5.2% monthly rise in average used values to £4447 with year-on-year values up 3.4%.

BCA’s general manager commercial vehicles Duncan Ward said: “October has been a relatively strong month for LCV sales and average values improved compared to September. Footfall at LCV sales has increased significantly and the on-going shortage of retail quality stock is keeping values very firm indeed.”

BCA’s monthly values in the fleet and lease sector grew by 3.2% to £5201 in October, a record for corporate stock.

Part-exchange values were marginally lower than in September at £2970 and values in the low volume nearly-new sector hit £13,581 – the highest level since January this year.

Van prices at Manheim were up for the fourth consecutive month to an average £4266 in October – a rise of 1.5%. Year-on-year this represented an increase of 5.7%.

Manheim said values continued to grow despite there being no significant changes in either age or mileage.