Zoopla has said that the cost of renting a home outside of London is rising at the fastest rate in over ten years.

The property portal said that there was a 5% increase in private rental prices across the country in the year up until the end of July – amounting to an extra £456 on the annual bill for the average tenant.

The 5% increase is the largest Zoopla has recorded since it started its index in 2008.

The company cited soaring demand for city living, amid limited supply, as the main cause of the uptick. Zoopla said that there has been a notable increase in those moving to built-up areas since businesses reopened post-lockdown.

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