The latest figures for January from British Car Auctions (BCA) have highlighted a record month for light commercial vehicle (LCV) values in the UK.

BCA general manager for commercial vehicles Duncan Ward commented: "January essentially delivered more of what we saw throughout the previous 12 months – a shortage of stock allied to decent levels of demand that generated exceptionally strong prices in the used van market."

As such, January witnessed a sixth consecutive month of growth in typical LCV values to £5,322 – up by £11 from December and by £653 (13.9 per cent) from the same month in 2013.

Mr Ward added buyer demand remains focused on the best-quality examples in the used LCV sector and this is driving up prices across the board.

Overall, average mileage for vehicles coming to the market fell annually from 80,736 miles to 79,654; while at the same time, typical age rose slightly from 56.64 months to 57.9.

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