Rents hit record high amid ‘highest increases for decades’

‘Letting agents are seeing extremely high volumes of tenant inquiries’

Average rent prices are rising (Anthony Devlin/PA) (PA Archive)

The average monthly rent being asked of new tenants across Britain, excluding London, has hit a record £1,172 per month, according to a property website.

The typical private rent being asked within London also hit a record high of £2,480 a month, Rightmove said.

The website said there are signs that competition between tenants for the homes available to rent is starting to ease as more properties become available but the imbalance between demand and supply is still very big.