The average price of used vans has risen by 26 per cent so far this year, reports Aston Barclay.
The auction & remarketing supplier said it thought they’d hit their summit during the second quarter, but they rose by 4.2 per cent (£255) to £6,204 in the third quarter.
Aston Barclay said that equalled an unprecedented 26 per cent price rise in 2020 from a first-quarter average of £4,923 – and there’s no sign of the market cooling down as it enters the last quarter.
Sectors such as home delivery would carry on growing ‘at a frightening pace’, it commented, with the rise of online shopping further fuelling demand for used vans.
And the increase in prices in the third quarter comes in spite of average age and mileage going up to 68 months and 105,648 from 60 months and 96,090 miles in the second quarter.
Geoff Flood, Aston Barclay’s national LCV manager, said: ‘The market has never seen a 26 per cent rise before.
‘From the high demand and lack of supply we are continuing to experience at auction, the van price boom will continue into 2021.’
He added: ‘We are also hearing that some new vans are suffering from long lead times, which will mean prolonged replacement cycles and heavier demand on used vans, which will keep prices sky high.’
Meanwhile, double-cab prices rose on average in the third quarter by 4.7 per cent (£488) and have gone up by 9.2 per cent (£900) since this year’s first quarter.