The average residential rent across England and Wales now stands at £753 per month. This is the same as in November and is up from an average of £738 per month a year ago.
But rents are just 0.1 per cent higher than a year ago after consumer price inflation of 1.9% - the first real-terms increase in rent since last September according to LSL Property Services.
LSL also says that rent in nine out of 10 regions are higher than a year ago. The fastest annual increase is in the south east, where the average monthly rent is now 3.8 per cent more than a year ago. In the north west the rise is 3.0 per cent and in London 2.3 per cent.
As of July the gross yield on a typical rental property in England and Wales stands at 5.1 per cent, slightly down on a year ago.
Taking into account price growth alongside void periods between tenants, total annual returns on an average rental property stand at 10.3 per cent in the 12 months to July.
In absolute terms this means the average landlord in England and Wales has seen a return, before any mortgage payments or other deductions, of £17,307 in the last year. This is made up of rental income of £8,168 and an average capital gain of £9,140.
Looking ahead, if rental property prices continue to rise at the same pace as over the last three months, the average buy-to-let investor in England and Wales could expect to make a total annual return of 8.5 per cent over the next year, equivalent to £15,050 per property, claims LSL.
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