Rental income has increased for the third consecutive quarter, according to new research from Paragon.

It found that 34% of landlords have increased rent levels across their property portfolio in the third quarter, compared to 29% in the previous quarter.

Just over 10% of landlords said their rental income had increased by between 2% and 4%, whilst 13% of landlords increased rents above that level. Only 4% of the landlords surveyed for the quarterly report said they had experienced a decrease in their rental income.

39% of professional landlords said their rental income had increased during Q3, whilst 75% of smaller-scale landlords reported little change, with their rental income remaining the same. On average the overall increase for all landlords was 1%.

Nigel Terrington , Paragon’s chief executive, said: “Tenant demand has been growing for a number of years