Average value of new vans dropped in May 2014, finds DrivenData

In contrast, average annual price since May 2013 has increased by 1.171%, or £470 (from £27,379 to £27,849).

The company also found that that the underlying pace of inflation in van prices has increased over the past 12 months, to 1.2%. Inflation fell by 0.7% between May 2012 and May 2013.

Commenting on the findings, DrivenData managing director, Martin Keighley, said: ‘The average cost of new vans appears to have stabilised over the past year, despite improvements in specification (such as the greater availability of optional extras like Bluetooth and DAB), economy and emissions.

‘As the UK economy slowly starts to wake up and consumers find themselves with more money to spend, it seems LCV manufacturers have got the right products at the right time and, more importantly, at the right price.’