At £4057, average van values are 52% up on the fourth quarter of 2008 when the market was in the grip of the recession.

Pick-up values are a massive 42% higher than three years ago at £7002.

Car derived vans are up by just 1% at £2679, car vans are up by a more substantial 15.5% to £2320 and large panel vans below and above three tonnes are up 14.6% and5.7% to£3845 and £4419 respectively.

Against the trend, the average value of small panel vans fell 4.6% to £4289 compared to three years ago.

Over the three year span, average age dropped three months to 52 months and mileage fell by less than 800 miles to 71,838 miles.

James Davis, Manheim’s CV boss, said the rise in average values, despite the corresponding increase in volumes as daily rental fleets downsized, underlined the strength of the market.