Rents are set to increase by a further 4% in the next 12 months, a report by RICS has predicted.
This is due to the high level of interest on mortgages, making it virtually impossible for first-time buyers to get on the housing ladder, resulting in more turning to the rental market.
This also comes at a time when the market is witnessing an exodus of landlords, resulting in a lack of stock which is pushing up the prices.