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Supply shortages and mortgage rate rises push UK rents to highest point ever

Average rental property receives three times more enquiries from prospective tenants than in 2019

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Private home rents in Great Britain have increased to their highest point on record after shortages in supply and mortgage rate rises combined to push the cost up by 10% over the past 12 months.

The average rent for new properties being put on the market now stands at a record £1,278 per calendar month outside London in the July to September period, according to Rightmove.

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