The average value of a used car sold at British Car Auctions (BCA) stood at £7,758 in June, a 3.7% (£282) rise compared to the same month in 2014, according to the June BCA Pulse report.

Year-on-year, the average age increased marginally at 61.17, while mileage fell from 56,188 miles to 55,075 miles. CAP was up slightly over the year to reach 97.26%.

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The headline average value of a used car in June was down by £45 (0.5%) compared to May. This is the second consecutive month that the headline figure declined as May’s average value was £69 lower than April.

Simon Henstock, BCA’s UK operations director said: "The summer months typically see some pressure exerted on average values so we are not surprised to see the headline figure drop for the second consecutive month. The most significant factor in the current marketplace is that supply and demand are reasonably well balanced, with conversion rates remaining relatively stable. It is also worth remembering that values remain at exceptionally high levels on average, reflecting that buyers are continuing to compete strongly for good retail-quality stock."

He added: "While cars presented in the best ready-to-retail condition will typically make values in excess of guide price expectations, vendors should not expect similar returns for vehicles in poor or below average condition. It is important to appraise vehicles honestly and accurately as there is little to be gained by placing over-aspirational reserve prices on poor condition cars."

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Fleet and lease values remained at record level for the third consecutive month, while part-ex values declined month-on-month in June.

The average fleet and lease car value rose by £279 (2.9%) last month compared to June 2014, reaching £9,727. Average age was broadly static at 40.06 months, while average mileage dropped from 46,636 to 45,925. CAP Clean performance was slightly higher at 96.99%.

The average fleet and lease car value was just £8 higher than May’s figure.

The average dealer part-exchange vehicle value was £4,278 in May. Year-on-year values were ahead by £305 (7.6%), with CAP Clean performance ahead by a point compared to a year ago.

Over the same period the average age increased from 88.12 months to 89.45 months, while average mileage declined from 71,128 to 70,000.

The average dealer part-exchange value dropped by £119 (2.7%) compared to May 2015.

Nearly-new values fell in June, although model mix has a significant effect in this low volume sector. The average value in June was £20,363, average age stood at 8.46 months and CAP Clean performance was 99.37%.