Rents reached their previous peak high in April, according to the latest Buy-to-Let Index from LSL Property Services.
Last month, the average rent in England and Wales grew by 0.8% to £692 per month, equalling the record high reached in November 2010. LSL says the growth means that rents are now 4.4% higher than a year ago, the highest annual inflation since November 2010.
The average yield reached 5.1% in April.
David Brown, commercial director of LSL Property Services, said: “The rental market is heating up as thousands of would-be tenants have taken advantage of the weather and long weekends to hunt for new rental homes. Even a slightly stronger supply of property has failed to cool rental inflation as landlords take advantage of the growing number of mortgage products available.
