The average rent in Great Britain rose by 11.5% annually to £1,152 in May, according to the latest Hamptons Lettings Index.
This is equivalent to £119 per calendar month higher than the previous year, and marks the first time that rental growth has hit double digits since Hamptons began recording in 2012. The latest figure surpassed the previous record rate set last month at 9.8%.
Hamptons noted that with rents rising quickly and mortgage rates near historic lows, for the last 11 months it has been cheaper to buy a home in Great Britain than rent.
Click this link to read the rest of this article.