According to Rightmove, the average rent being advertised across the UK increased to £1577 per month in August.
This means that the advertised rents were around 3% higher than last year.
This was blamed on a “constrained supply of homes” by the property website.
Average UK asking rents reach record highs amid ‘challenges’ for renters and landlords
While the number of available homes to rent across the UK is 8% higher than a year earlier, it is still 27% lower than in August 2019.
Average advertised rents are rising fastest in the north-west of England, with average rents being around 10% higher than a year earlier.
Colleen Babcock, a property expert at Rightmove, said: “There are challenges for both tenants and landlords in the current market.
“While tenants looking to move have more choice and less competition from other tenants compared with a few years ago, some may still find their options limited with rents at record levels.”
“It is essential that it remains attractive and viable to be a landlord so that tenants have comfortable places to live.
“If more landlords are driven out of the sector by more and more taxation, it will be tenants who lose out in the long run.”
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These are the average asking rents across the UK
See the average asking rents across the UK, including how much they have increased since last year.
- East Midlands, £1134, 2.3%
- East of England, £1599, 2.5%
- London, £2699, 2.0%
- North East, £918, 2.9%
- North West, £1278, 9.7%
- Scotland, £1141, 2.4%
- South East, £1828, 2.4%
- South West, £1461, 2.1%
- Wales, £1107, 2.6%
- West Midlands, £1196, 2.5%
- Yorkshire and the Humber, £1051, 2.5%
Average advertised rents are rising fastest in the north-west of England.
