Only one region of England and Wales saw rents fall in the year to September 2018, according to the Your Move Rental Tracker.
September sees the start of the new academic year and typically causes a surge in activity in the private rental sector. This year was no exception as students returned to their university towns and cities.
The majority of regions saw rents rise compared to the previous month, and all but one increased on an annual basis. The only region to buck the trend was London.
Prices in the capital fell by 1.3% in the last 12 months, but it remains the most expensive place to rent in this survey. The average rental price is now £1,271 per calendar month.
The strongest annual growth came in the South West, where prices have risen by 4.3% to it £686 a month. The next fastest price rise was in the East Midlands, where the average property is now worth £656 after growth of 2.4% in the last year.
In the South East rental prices increased by 1.8% to hit £895 in the year to September.
The average rent across England and Wales grew by 2.3% in the last year, hitting an average of £861 (seasonally adjusted). This figure was virtually flat compared to August.
Across all regions, on a non-seasonally adjusted basis, the average property let for £944 this month.
Martyn Alderton, national lettings director at Your Move, said: “Students up and down the country are beginning to return to their universities. Yet far from the outdated stereotypes of ropey student digs, many young people are able to access top quality student accommodation in their place of study.
“The growth of the student rental market has been a boon for landlords who have invested in good quality properties.
“Yet the number of living options for students means that there is real competition, with landlords having to ensure quality is high to attract the best tenants.”
