Average values of used vans sold at auction fell by £53 in February to £5848, the latest monthly BCA Pulse report has revealed.

Year-on-year values, however, were ahead by £316 – 5.7% – with the average van in February 2016 being around five months younger and with 1450 fewer miles on the odometer than a year ago.

Ex-fleet and lease vans recorded average prices of £6625 – an increase of just £5 compared to the previous month, and the highest monthly value recorded since 2014, while year-on-year values were ahead by £92.

Part-exchange van values, fell by £199 to £3850, however year-on-year prices were ahead by £328, equivalent to a 9.3% uplift, while nearly-new vans averaged £12,512 – a decrease of £1272 compared to January.

BCA said the downturn in nearly-new prices was down to very low volumes reaching the market as well as the availability of new-shape models reaching the used market.

“Demand continued in February with trade buyers competing strongly for the best-presented LCVs,” said Duncan Ward, BCA UK’s operations director. “We saw LCV sale records broken around the network, notably at Blackbushe.  Confidence remains relatively high, but as indicated last month, a two tier market is developing with the most attractive, retail quality vans often outperforming the market by some margin, while higher mileage or damaged examples are less desirable.”