Rents rose in August by 1.4%, according to the latest Buy-to-Let Index from LSL Property Services. This is the seventh consecutive monthly increase and the highest rise since August 2009. It means rents are the highest they have been since September 2008.

The average UK rent is now £686, 2.5% higher than the same time last year, following an increase of 0.5% in July. The average yield rose from 4.8% in July to 4.9% in August.

David Brown, commercial director of LSL Property Services plc, said: “Rents are jumping up as more and more potential home buyers opt to rent. People are wary of a crash in house prices and concerned over the effect of government cuts on their own ability to meet long-term financial commitments. Additionally