The company's data shows that values increased by 4.4% (£169) in February compared with the previous month. Average values have now increased in all but two of the last 13 months. Compared with February 2009 average wholesale used van prices are actually up by 49.5% (£1,329), with average age up by two months to 54 months and average mileage 3,771 miles higher at 73,896.

Examples of the increases in average month-on-month values in February include Car Derived Vans up by 9.0% (£241 to £2,919), Small Panel Vans up by 6.8% (£289 to £4,513), Large Panel Vans less than 3.0t up by 5.5% (£198 to £3,775), Large Panel Vans greater than 3.0t up by 1.5% (£61 to £4,130) and 4x4s up by 1.3% (£90 to £6,821). At 54 months, average age in February was down by one month compared with January while average mileage was also lower by 128 miles at 73,896.

Alex Wright, sales director, commercial vehicles, Manheim Auctions said: 'The continued increase in wholesale values has certainly lasted longer than expected and is a clear indication of strong demand and a relative lack of supply especially of young, low mileage vans. These vehicles will remain highly sought after, as extended lead times for delivery of new vans will drive many self-employed buyers of new vans into the nearly new, used van arena. In addition, the decision by many fleets to defer placing replacement vehicle orders means that supply is likely to remain short until Q3. No doubt the strength and resilience of the wholesale van market will continue to drive demand and thus used values so I remain positive and upbeat about the wholesale market as the country embarks on slow and steady economic growth.'