Rental costs for housing in the UK private sector have gone up for the first time in more than a year.
The average national increase was 2% over the 12 months to July this year, bringing the average monthly rental cost to £753.
This increase was slightly ahead of inflation which was running at 1.9%. Over the course of the last year to June, rents had stayed below inflation.
The South East of England predictably had the greatest increase (3.8%), but the North West was not far behind (3%) while that in London was 2.3%. Nevertheless, average rents in the North West are £594 while in London it has hit £1,143.
It was only in the North East that rent prices fell (3.8%), making the average £507. Prices here are the lowest in Great Britain.
A shortage of properties to choose from has been blamed for pushing up both rents and house prices in recent years.
Fewer tenants seem to have fallen into arrears in the last year. Now 7.3% of all renters are in arrears, down from 8.1% a year ago, thanks in part to improved employment opportunities.
The figures are based on rents achieved on some 20,000 properties across England and Wales compiled by LSL Property Services, owners of national chains Your Move and Reeds Rains.
