Average rent well over £1k says Move with Us

The average advertised rent in Britain increased by £62 or 6.56 per cent in the year to the end of July and now stands at £1,029 per month.

National rents passed the £1,000 per month mark in June and since then have continued to climb steadily, rising an average of £11 per month.

The big spur to the national average increase is, unsurprisingly, the surge in Greater London which has an average rent of £2,376 per month. On average, renting a property in the capital is now £43 more expensive that it was at the beginning of July and £223 or 10.11 per cent dearer than a year ago.

Average rents in East Anglia averaged £948 per month in July and Move with Us claims that this will probably exceed the £1,000 per month mark within the next year. The south east of England's average is already £1,245 but no other region is over the £1,000 mark.

The Move with Us figures are based on a weekly snapshot of over 150,000 rental properties advertised on major portals across eleven regions in Britain.

It breaks the sample down into different property types recording both the number and average rental prices advertised for each; these are then weighted to avoid any one area being over-represented and skewing the data.