The average value for a van sold at auction hit a new high last month according to the monthly BCA Pulse report.

The remarketing giant said that used van values averaged £6,409 in January, up £13 on December’s figure, making it the highest figure on record since the Pulse started reporting monthly values in 2005.

Year-on-year values are also ahead, by £506, largely as a result of the past four months, seeing the highest figures on record.

Ex-fleet and lease van values fell slightly, by £76, during the month, because of increased volumes compared with December, but year-on-year prices are up, by £478 when compared with the same period in 2016.

Part-exchange van values, meanwhile, improved a little, rising by £4,020, while year-on-year figures fell by £29 as the age and mileage of the LCVs increased by two months and 4,000 miles respectively.

Nearly-new van values fell for the second month in a row – by £248 – in January, although they were up by £651 year on year.

“While January saw good levels of buyer activity at BCA and a busy marketplace, the volumes available from a variety of sources simply outstripped demand. This impacted conversion rates and average values as buyers were presented with a much wider choice of stock,” said Duncan Ward, BCA’s LCV operations director.