The average rent in England and Wales reached £743 per month in August, after a monthly increase of 0.7%, property business LSL reported this morning.
On an annual basis, this leaves rents 1.3% higher than a year ago, and £1 behind the all-time record high set in October 2012.
Meanwhile, the pace of new lettings accelerated in August as the number of new tenancies across England and Wales increased by 8.8% compared to July. On an annual basis, there were 13.7% more new tenants in August than in August 2012.
Rents increased in eight out of ten regions, falling only in the North-East and East Midlands.
Gross yields on a typical rental property remained steady at 5.3% in August.
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