Quarter of agents report New Year rent hikes

No fewer than 27 per cent of the country's letting agents have seen their landlord clients increase rents since the start of the year.

The figure, from the Association of Residential Letting Agents, shows that the largest proportion of landlords hiking rents took place in the east of England - including rental hotspot Cambridge - where 35 per cent of ARLA-registered agents reported a rise.

Welsh agents on the other hand only saw the smallest proportion, 11 per cent.

Despite the rises David Cox, ARLA's managing director, describes the rental market as currently a much more accessible and affordable option to buying but the increased demand impacts on rents.

If house prices continue to rise in 2015, we expect this trend to continue in the rental sector Cox says.

The association survey also shows that on average, agents reported it taking around five viewings for a property to be taken off the market. In London, this figure rises to seven.

ARLA agents also reported an average of 38 prospective tenants registered per branch in January. Unsurprisingly this was the highest in London, with an average 45 registered prospective tenants per branch.

The average number of managed rental properties per branch was 184. The highest was recorded in East Midlands at an average of 266 per branch, while the lowest was recorded in London at 140 on average per branch.