The used commercial vehicle sector witnessed an "exceptionally" strong first quarter in 2014 and witnessed the highest average values for commercial vehicles on record, according to the latest British Car Auctions (BCA) Pulse report.

Light commercial vehicles averaged £5,408 (€6,620) in the first three months of 2014 and the BCA network witnessed a number of record sales.

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Year-on-year numbers show first quarter values ahead by £641 (13.4%) compared to 2013 figures, as the average age increased by almost 2 months to 59.68 months and mileage decreased by around 500 miles.

Average CAP performance was also shown to have increased slightly, compared to twelve months ago.

Duncan Ward, general manager for commercial vehicles at BCA, said: "There can be little doubt that the improving economic background is giving a boost to the used LCV market, particularly as seasonal demand increases from the building and construction industries.

"Many small and medium-sized enterprises (SMEs) in the UK are now upbeat about their growth prospects this year and this sector is a big buyer of used light commercials," he added.

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The first quarter of 2014 "essentially delivered more of what we have seen over the past 24 month", he said, and explained the exceptionally strong prices in the used van market were a consequence of a combined shortage of good quality stock and "decent" levels of demand.

He added: "In fact, demand remains strong across the board, from car sized vans through to large panel vans and there is plenty of competition for any van presented in ready-to-retail condition."