Rents rose rapidly in the three months to the end of January. Falling supply of rental properties and strong tenant demand continued to drive up prices.

According to the latest RICS Residential Lettings Survey 40% more chartered surveyors reported rents rising rather than falling in the three months to January. This is the highest positive reading in the survey’s history. As rents increased, gross rental yields have also risen sharply – they have now increased in each of the last four surveys.