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Over the past year rents have increased on average by a massive 9.4%, though this has slowed recently, with the last quarter accounting for only 1.5% of this rise.
Outside of London, the average asking rent has reached a record high of £1,190 pcm, and within London, the average asking rent is just over £2,500 pcm.
Average rents outside of London have now risen for 13 consecutive quarters, though the pace of the increase has slowed.
Supply is still reduced, with a number of landlords selling or moving to a short let model, though the number of properties available is currently 6% higher than last year, but this is still 46% lower than in 2019.
