The number of tenants looking for rental properties has reached an eight year high, according to the Association of Residential Lettings Agents (ARLA).

Ian Potter, ARLA operations director, said that over 70% of its agents reported that consumers coming to their offices are being forced to rent because of the pressure exerted on potential home buyers.

He added: “This is real evidence of a generation forced into renting and the government must recognise the need for regulatory protection for them.